Catalent has agreed to acquire Cook Pharmica, a Bloomington, Indiana-based contract development and manufacturing organization (CDMO), for $950 million. Cook Pharmica is a CDMO of biologic-based drug substances and parenteral drug products.
The purchase price is $950 million, with $750 million to be paid at closing and the balance to be paid in equal installments, without interest, on each of the next four anniversaries of the closing. Catalent says the acquisition will help the company in the area of biologics development and analytical services, manufacturing, and finished product supply.
Cook Pharmica has capabilities in biologics development, clinical and commercial cell-culture manufacturing, formulation, finished-dose manufacturing, and packaging. It was founded in 2004 as a division of the Cook Group, a company that primarily manufactures medical devices.
Cook Pharmica operates an 875,000-square foot development and manufacturing facility in Bloomington, Indiana. Upon completion of the deal, Cook Pharmica’s more than 750 associates, including its executive team, will join Catalent’s global network of more than 30 sites and more than 10,000 team members. With Cook Pharmica’s available space and expertise, Catalent said it will create a biologics development and manufacturing center of excellence.
Catalent now operates a biologics manufacturing facility in Madison, Wisconsin and has proprietary cell-line technology, GPEx.
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 2017.
Source: Catalent and Cook Pharmica