Catalent To Acquire Metrics Contract Services From Mayne Pharma For $475 Mln

(RTTNews) - Catalent Inc. (CTLT) said that it agreed to acquire Metrics Contract Services, a full-service specialty Contract Development and Manufacturing Organization (CDMO) with a facility in Greenville, North Carolina, for $475 million from Mayne Pharma Group Limited (MYX.AX).

The 333,000 square-foot Greenville facility features comprehensive capabilities to accelerate and de-risk customer programs from early development through commercial launch through a streamlined one-site solution.

Catalent expects to close the acquisition before the end of this calendar year, subject to customary closing conditions, 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 agreement whereby the Greenville facility will continue to manufacture multiple Mayne Pharma products. Catalent will pay the purchase price for the all-cash acquisition using a combination of cash on hand, existing credit facilities, and, depending on market conditions, potentially new debt financing.