Catalent Inc. has bought Bloomington, Indiana-based Cook Pharmica LLC for $950 million.
The Somerset-based company will pay $750 million upon closing for the integrated provider of drug substance and drug product manufacturing and related services.
The rest will be paid in equal installments, without interest, on each of the next four closing anniversaries.
The acquisition will strengthen Catalent’s position as a leader in the rapidly growing area of biologics development and analytical services, manufacturing and finished product supply, the company said.
Cook Pharmica is a privately held, biologics-focused contract development and manufacturing organization with capabilities across biologics development, clinical and commercial cell culture manufacturing, formulation, finished-dose manufacturing and packaging.
“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,” said Catalent Chair and CEO John Chiminski. “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 to build a true global leader in the biologics market, which will help us to improve the lives of patients around the world.”
Catalent Biologics currently offers a global site network, including a state-of-the-art biologics development and biomanufacturing facility in Madison.
Cook Pharmica’s more than 750 associates will join Catalent’s network of more than 30 sites across five continents with more than 10,000 team members.
The completion of the transaction is subject to customary closing conditions, including approval from regulatory authorities, and is expected to occur in the fourth quarter of this calendar year.
