Catalent buys gene therapy maker in $1.2B deal

Alia Paavola - Print  | 

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.

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