Catalent buys gene therapy maker in $1.2B deal

Contract drug manufacturer Catalent will buy Paragon Bioservices, a privately held company focused on gene therapy production, for $1.2 billion, according to The Wall Street Journal.

The all-cash deal will help Catalent expand its ability to produce complex gene therapies, an emerging market increasingly targeted by drugmakers.

The deal is expected to close in the second quarter of this year.

Paragon is backed by private equity firms Camden Partners and NewSpring Capital and focuses on developing and manufacturing complex biopharmaceuticals for its clients. Catalent also develops drugs for other companies.

Read the full report here.

More articles on pharmacy:
PBM hearing should prompt bill to ban 'secrecy' in drug industry, senator says
Republicans tell drugmakers that complying with House probe could hurt their stock prices
Hawaii primary care network opens in-house pharmacy

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers