Catalent to buy Paragon for $1.2B - reports

Monday, 15. April 2019 02:00

Drug manufacturer Catalent Inc. will buy biopharmaceutical developer and manufacturer Paragon Bioservices Inc. for $1.2 billion, the Wall Street Journal reported citing sources familiar with the matter.

The all-cash deal, which is expected to be announced on Monday morning, would allow Catalent to improve its gene-therapy manufacturing capabilities. It is expected to close in the second quarter of this year but exact details would be provided at the announcement.

If the deal goes through, it would represent the latest transaction in a field that has recently witness a flurry of activity. Thermo Fisher Scientific Inc. announced last month that it will acquire Brammer Bio, a biotechnology company specializing in cell and gene therapies, for $1.7 billion. European pharmaceutical giant Roche also said in February that it will acquire commercial gene therapy company Spark Therapeutics for approximately $4.8 billion.

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Breaking the News / DZ