Patheon set for softgel capsule production at Cincinnati
Spokesperson Wendy Wilson told Outsourcing-pharma that: “Customers have been looking for a top-tier supplier for softgel capsules that has Patheon's performance levels for some time.”
Wilson went on to say that the new manufacturing capacity suits development and small scale commercial projects and “should be operational within the next 30 to 60 days.”
In a press statement, CEO Wes Wheeler said the expansion compliments the existing liquid filled, hard gelatin capsule lines at the facility and “creates a more comprehensive service offering.”
The CMO also appointed Edgar Jaynes as its new associate director of pharmaceutical development services at the site, explaining that his “broad industry experience” includes expertise in soft gel technology.
Expansion in the softgel capsules sector will increase the competition between Patheon and rival CMOs such as New Jersey, US-based Catalent and Pfizer’s Capsugel unit, which both have existing manufacturing capacity.
Raises $280m through private placement
In other news, Patheon recently announced that is will raise around $280m through a private placement of secured notes, equivalent to 8.6 per cent of the company.
The firm said that the move will allow it to repay “outstanding indebtedness under the company’s existing senior secured term loan and asset based revolving credit facility, to repay certain other indebtedness and to pay related fees and expenses.”
Patheon did not disclose the name of the investor.
