- Catalent ( NYSE: CTLT ) to acquire Metrics Contract Services, a full-service specialty Contract Development and Manufacturing Organization with a facility in Greenville, North Carolina, for $475M from Mayne Pharma Group Limited.
- The move will strengthen Catalent's capabilities in integrated oral solid formulation development, manufacturing, and packaging to help customers simplify and accelerate their programs, while also expanding Catalent's capacity to handle highly potent compounds.
- The deal is expected to close before the end of this calendar year and the entire team of over 400 employees will join Catalent.
- Mayne Pharma and Catalent have also agreed on the terms of a long-term supply pact whereby the Greenville facility will continue to manufacture multiple Mayne Pharma products.
- Catalent will pay the purchase price for this all-cash acquisition using a combination of cash on hand, existing credit facilities, and, depending on market conditions, potentially new debt financing.
- The closing of the deal is not contingent on any financing activity.
For further details see:
Catalent to acquire Metrics Contract Services for $475M