March 6 (Reuters) - Lonza will sell its capsules and health ingredients business to private equity firm Lone Star Funds for an enterprise value of 2.3 billion Swiss francs ($3.0 billion), the Swiss contract drug manufacturer said on Friday.

The company has been seeking to exit the business since December 2024, with an aim to focus solely on its core contract drug manufacturing offering.

KEY DETAILS

- Lonza will receive upfront proceeds of 1.7 billion Swiss francs and retain a 40% stake in the business

- Total undiscounted proceeds are expected to be at or above 3 billion Swiss francs

- The transaction is expected to close in the second half of 2026

($1 = 0.7777 Swiss francs)

(Reporting by Bartosz Dabrowski in Gdansk; Editing by Kristen Donovan)