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Catalent to acquire Cook Pharmica for $950M

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Somerset-based Catalent Inc., a provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, is acquiring Cook Pharmica LLC for $950 million.

Cook Pharmica, based in Bloomington, Indiana, is a manufacturer of drug substance and drug products.

The purchase price was $950 million, but Catalent reached a deal to purchase Cook Pharmica for $750 million to be paid at closing, and the remaining balance to be paid in equal installments every year for the next four years.

The acquisition, according to Catalent, will strengthen its position in biologics development and analytical services, manufacturing, and finished product supply.

“The complementary biologics development, biomanufacturing and fill-finish capabilities of Catalent and Cook Pharmica will provide biopharmaceutical firms with a single, integrated partner supporting a wide range of clinical and commercial needs,” John Chiminski, chair and CEO of Catalent, said. “We are very excited to join forces with the talented Cook Pharmica team in Bloomington, Indiana and plan to invest aggressively there, in our rapidly expanding Madison, Wisconsin facility, and in the rest of the Catalent Biologics network to build a true global leader in the biologics market, which will help us to improve the lives of patients around the world.”

“This acquisition is also a recognition of the hard work, dedication and community spirit of the team who have helped Cook Pharmica grow, and of the Bloomington area, which is such a terrific home for this fast-growing business. We look forward to strengthening Cook Pharmica’s partnership with the community in the years to come as we further strengthen our leadership position in biologics,” Chiminski said.

Upon completion, Cook Pharmica’s 750 associates and its executive team will join Catalent's network.

Catalent obtained financing from Morgan Stanley Senior Funding Inc., J.P. Morgan, PBC Capital Markets and BofA Merrill Lynch. Morgan Stanley Senior Funding is acting as lead arranger for the financing of the deal. J.P. Morgan Securities LLC is providing a fairness opinion to Catalent. Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal counsel to Catalent.

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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