Catalent, Inc. (NYSE:CTLT), a global provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products, has reached an agreement to acquire Cook Pharmica LLC, a Bloomington, Indiana-based integrated provider of drug substance and drug product manufacturing and related services.
The completion of the transaction is subject to customary closing conditions, including approval from regulatory authorities, and is expected to occur in the fourth quarter of this calendar year.
The purchase price is $950m, with $750 million to be paid at closing and the balance to be paid in equal installments, without interest, on each of the next four anniversaries of the closing.
The acquisition will augment Catalent’s expertise in cell line engineering, bioconjugate development, analytical services, biomanufacturing, prefilled syringe, and blow/fill/seal technologies.
Founded in 2004 as a division of the Cook Group, Cook Pharmica is a biologics-focused contract development and manufacturing organization with capabilities across biologics development, clinical and commercial cell culture manufacturing, formulation, finished-dose manufacturing, and packaging. The company today operates an 875,000 square foot development and manufacturing facility in Bloomington, which has extensive biomanufacturing capacity and deep expertise in sterile formulation and fill/finish across liquid and lyophilized vials, prefilled syringes, and cartridges.
For the twelve months ended June 30, 2017, Cook Pharmica generated $179 million in revenue.
Upon completion, Cook Pharmica’s over 750 associates, including its experienced executive team, will join Catalent’s network of more than 30 sites across five continents with more than 10,000 team members and complement Catalent’s existing biologics capabilities, alongside its other leading capabilities in oral, inhalation, and consumer health.