The company gains sterile fill/finish operations to meet the rising demand for biologics.
Catalent has announced its intention to acquire the Bloomington, Indiana-based Cook Pharmica for $950 million. The agreement structures a deal in which Catalent will pay $750 million at closing, followed by equal installments without interest for four consecutive years on the anniversary of the closing date.
Relative to the time-frame of the deal, Catalent will, on closing, gain the operations of a well-established biologics CDMO with capabilities ranging from biopharmaceutical development, clinical and commercial-scale cell culture manufacturing, formulation and finished-dose sterile fill/finish processing. Established in 2004, Cook Pharmica puts the company’s 875,000 sq. ft. manufacturing facility under Catalent management. According to Catalent, Cook Pharmica generated more than $179 million in revenue from its Bloomington operations for the 12-month period, ending June 30.
Articulating the strategic nature of the acquisition, John Chiminski, Catalent CEO, said: “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.” Chiminski praised the deal and said Catalent plans to invest aggressively there, as well as in the rest of the Catalent Biologics network to “Build a true global leader in the biologics market, which will help us to improve the lives of patients around the world.”
Highlighting the capabilities and value of its acquisition, Catalent explained Cook Pharmica has “deep” expertise in both formulation and sterile fill/finish processing including blow/fill/seal. Upon completion of the all-cash transaction, Catalent will integrate Cook Pharmica’s executive team and more than 750 employees into its existing network of over 30 sites and 10,000-plus employees worldwide. Catalent expects the transaction to close by this year.