Catalent Inc. (NYSE: CTLT) has agreed to purchase biopharmaceutical manufacturer Cook Pharmica for $950 million. The target is a subsidiary of medical device company Cook Group.
Cook Pharmica, based in Bloomington, Indiana, is a contract and manufacturing firm that helps biopharmaceutical and healthcare companies with packaging, syringe filling and formulation development. Catalent says the acquisition will strengthen its presence biologics services. Fried Frank Harris Shriver & Jacobson is representing Catalent, which is receiving an a fairnesss opinion from J.P. Morgan Securities LLC (NYSE: JPM).
“The complementary biologics development, biomanufacturing, and fill-finish capabilities of Catalent and Cook Pharmica will provide biopharmaceutical firms with a single, integrated partner supporting a wide range of clinical and commercial needs,” says Catalent CEO John Chiminski. Catalent, located in Somerset, New Jersey, makes delivery technologies and consumer health development products.
The pharmaceutical industry remains a growing market for M&A. Recent deals within the sector include: Carlyle’s joint deal with Bourne Partners to establish Phoenix Therapeutics as a platform company to pursue manufacturers of drug products; Eiger BioPharmaceuticals Inc.’s purchase of Celladon Corp.; and Midatech Pharma (Nasdaq:MTP) purchased an anti-nausea drug from Galena Biopharma Inc. (Nasdaq:GALE).