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To further enhance its position in clinical-trial materials supply, Catalent Pharma Solutions has agreed to acquire the clinical-trial supplies business of Aptuit for $410 million on a cash and debt-fee basis.
To further enhance its position in the supply of clinical-trial materials, Catalent Pharma Solutions has agreed to acquire the clinical-trial-supplies business of Aptuit for $410 million on a cash and debt-fee basis.
“This transaction builds important expertise, scale, and capability for our Development & Clinical Services business to better meet our customers’ needs globally,” said John Chiminski, president and CEO of Catalent, in an Aug. 22, 2011, press release. “This transaction also strengthens Catalent’s global leadership in development solutions and advanced delivery technologies for drugs and biologics.”
Catalent’s Development & Clinical Services business offers clinical-supply services, analytical chemistry, respiratory-product development, regulatory consulting, and biologics cell-line development. Catalent says the acquisition positions the company as the number two provider globally in clinical-supply solutions. Catalent offers development services, advanced delivery technologies, and supply solutions for drugs and biologics. The company employs more than 8000 people at 24 facilities worldwide and generated more than $1.7 billion in annual revenue during fiscal year 2010, according to company information.
After exiting the clinical-trial materials supply sector, Aptuit will focus on discovery through mid-phase development. “This agreement puts Aptuit in a better position to focus on the scientific excellence that our customers want,” said Timothy C. Tyson, chair and CEO of Aptuit, in the press release. “Focusing on our expertise in discovery and development services leverages our leadership position and allows us to concentrate on delivering high-growth, high-value scientific services from discovery to mid-phase development.”
The deal is subject to customary closing conditions, including approval from regulatory authorities. The transaction is expected to be complete by the end of the calendar year.