Higher demand for clinical services drove growth at Catalent in fiscal Q4, offsetting falling European demand for injectables and flat oral delivery technology sales.
Net revenue for the period ended June 30 was $478m, up 13 per cent, thanks largely to a 58 per cent hike in the contribution from Catalent’s development and clinical services business that was driven by its acquisition of Aptuit’s trials division in February .
A company spokesman explained that: “We’re pleased with how well the acquired Aptuit clinical supply business has come together with ours to form a strong #2 provider in the market, offering our customers better and broader solutions than ever, and posting double digit gains for the quarter on a constant dollar basis.”
This performance contrasted Catalent’s oral delivery division, which saw net revenue decrease by some $700,000 to $323m despite stronger demand for softgels, the Zydis fast dissolve formulation technology and the firm’s controlled-release systems.
The Catalent spokesman said that: “In these businesses, our growth is driven by relationships with both large and small customers on specific products which use our technologies, both recently launched ones and those from past launches performing particularly well in the marketplace.
He added that: “In the quarter and the year just ended, we experienced this growth in both global pharmaceuticals and in consumer health products in multiple regions.
Catalent’s medication delivery solutions business also saw revenues decline relative to Q4 fiscal 2011- down 7 per cent to $57.5m - due to continued low demand for injectables products – both influenza and non-influenza-related – in Europe.
United Drug case
The results come just days after United Drug asked the US courts to throw out a case brought against it by Catalent. The New Jersey, US firm accuses United Drug of disclosing confidential information it accessed after expressing an interest in buying the US packaging business.
We asked it - given United Drug's request - if Catalent will continue to purse the case, however the firm's spokesman said: "We don’t comment on pending litigation."