Catalent to buy Cook Pharmica for $950m in cash
The deal – which was announced today – is designed to expand Catalent’s biologics, cell culture manufacturing, and packaging capabilities.
Privately-owned Cook operates an 875,000 square foot development and manufacturing facility in Bloomington, Indiana. The firm generated revenue of $179m in the fiscal year ended June 30.
The plant houses capacity to fill 15 million vials and 70 million syringes a year.
It also provides customers with process development services as well as cell culture manufacturing. Cook also undertakes vial filling, formulation development and analytical services at the site.
Catalent CEO John Chiminski said: “We are very excited to join forces with the talented Cook Pharmica team in Bloomington, Indiana and plan to invest aggressively there, in our rapidly expanding Madison, Wisconsin facility, and in the rest of the Catalent Biologics network.”
A Catalent spokesman told us "all of Cook Pharmica’s 750 plus staff, including their executive team, will join Catalent."
The deal is in keeping with Catalent Q3 report in May when it said biologics-related contracting had driven earnings growth. The contractor also predicted the proportion of revenue it generates from large molecule work will continue to increase.
At the time the firm cited deals with Roche, Moderna Therapeutics and Triphase Accelerator as examples of its expanding biologics business.
It also reported growing interest SMARTag protein modification and conjugation technology.
In addition to the Madison site, Catalent Biologics’ network includes a fill-finish services facility in Brussels, Belgium and Limoges, France and the hub for its SMARTag conjugation technology in Emeryville, California.