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.
Demitri Diakantonis joined SourceMedia in 2015 and serves as Assistant Managing Editor of Mergers & Acquisitions and writes The Buyside column about corporate dealmaking, and also covers the consumer sector.