Catalent To Acquire Privately Held Cook Pharmica For $950 Mln Cash - Quick Facts

(RTTNews) - Catalent, Inc. (CTLT), a provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products, announced Tuesday that it has reached an agreement to acquire Indiana-based Cook Pharmica LLC for $950 million in cash.

The acquisition is expected to be accretive to Catalent's Adjusted Net Income per share in the first full fiscal year following the completion of the transaction.

In the purchase price, $750 million will 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.

Cook Pharmica is a privately held integrated provider of drug substance and drug product manufacturing and related services. Founded in 2004 as a division of the Cook Group, Cook Pharmica operates an 875,000 square foot development and manufacturing facility in Bloomington. For the twelve months ended June 30, 2017, Cook Pharmica generated $179 million in revenue.

Catalent said the acquisition will strengthen its position in the rapidly growing area of biologics development and analytical services, manufacturing, and finished product supply.

Upon completion, Cook Pharmica's over 750 associates, including its executive team, 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.