Bachem jumps on 'positive deal' with Lilly

BACHEM HOLDING AG

26/04/2022 08:43

** Bachem  BANB.S  shares rise by 3.77% after the Swiss
biotech supplier announced it has entered into collaboration
with Lilly  LLY.N  to manufacture oligonucleotide-based drug
substances  urn:newsml:reuters.com:*:nFWN2WN1DM
    ** As part of the agreement the company will provide the
engineering infrastructure and expertise to implement Lilly's
new oligonucleotide manufacturing technology
    ** Vontobel calls the deal "positive" and key to reaching
mid-term targets 
    ** "With the Lilly deal, the outlook is confirmed as several
such deals are needed to reach targets" Vontobel comments,
adding that "We believe the outlook is reachable"
    ** Bachem shares are on top of Switzerland's midcaps index
 .SMIM 



 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))