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Catalent

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Catalent, Inc.
Company typeSubsidiary
NYSE: CTLT
IndustryPharmaceuticals
PredecessorCardinal Health PTS
Founded2007; 17 years ago (2007)
HeadquartersSomerset, New Jersey, U.S.
Number of locations
53 (2024)
Key people
  • Alessandro Maselli
  • (President & CEO)
  • John Greisch (Chairman)
ServicesDrug pre-formulation, formulation, analytical testing, clinical and commercial manufacturing, clinical packaging and supply chain, regulatory consulting
RevenueIncrease US$4.38 billion (2024)
Decrease US$−749 million (2024)
Decrease US$−1.04 billion (2024)
Total assetsDecrease US$9.75 billion (2024)
Total equityDecrease US$3.60 billion (2024)
Number of employees
16,900 (2024)
ParentNovo Holdings A/S
Websitecatalent.com
Footnotes / references
Financials as of June 30, 2024.[1]

Catalent, Inc. (Catalent Pharma Solutions), a subsidiary of Novo Holdings A/S since 2024, is a multinational corporation headquartered in Somerset, New Jersey. It is a provider of drug delivery technologies, drug development, drug manufacturing, biologics, gene therapy, and consumer health products. It has over 50 facilities on 4 continents and has supported more than half the products approved by the Food and Drug Administration in the last 10 years. Annually, it produces 70 billion doses for 8,000 products. The company's major customers include Bayer, Bristol-Myers Squibb, GlaxoSmithKline, Haleon, Novo Nordisk, Moderna, Pfizer, and Sarepta Therapeutics.[1]

History

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Before 2007

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In 1996, Cardinal Health acquired PCI of Philadelphia, Pennsylvania, a pharmaceutical contract packing service for commercial and clinical packaging.[2][3]

In 1998, Cardinal Health acquired R.P. Scherer Corporation of Troy, Michigan for $2.2 billion; it was founded by Robert Pauli Scherer to commercialize his innovation of softgel encapsulation using the rotary die production process.[4][5][6]

In 1999, Cardinal Health acquired Automatic Liquid Packaging of Woodstock, Illinois, thereby entering the sterile product market with blow fill seal technology.[7]

In January 2001, Cardinal Health acquired International Processing Corporation, a company that was renowned for its expertise in oral modified-release dosage form development and manufacturing, for $40 million.[8] In April 2002, Cardinal Health acquired Magellan Laboratories, a company that specialized in product development expertise.[9]

In October 2003, Cardinal Health acquired Gala Biotech of Madison, Wisconsin for $15.5 million.[10]

It also acquired Intercare Group of the UK for $530 million, broadening its global capabilities in Europe.[11]

2007–2019

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In April 2007, the pharmaceutical technologies and services segment of Cardinal Health was acquired by affiliates of the The Blackstone Group and re-branded as Catalent Pharma Solutions.[12][13]

In February 2012, Catalent acquired Aptuit, a clinical supply company. As part of the deal, Catalent gained three sites in the US, two in the UK, and one in Singapore.[14][15] Catalent also acquired all remaining shares for the R.P Scherer site in Eberbach, Germany.[6][16]

In March 2013, Catalent continued the global expansion of its Softgel capabilities through a joint venture with Zhejiang Jaing Yuan Tang Biotechnology, a China-based company, and Relthy Laboratories in Brazil.[17][18]

In July 2014, Catalent became a public company via an initial public offering on the New York Stock Exchange, raising $870 million.[19][20]

In November 2014, Catalent acquired Micron Technologies, a provider of particle size engineering technologies, expanding its portfolio of drug delivery technologies.[21]

In September 2016, Catalent acquired Pharmatek Laboratories to add spray drying capabilities.[22][23]

In October 2016, Catalent licensed the anti-body drug conjugate (ADC) to Triphase Accelerator to help with oncology development,[24]

In September 2017, Catalent agreed to acquire Cook Pharmica for $950 million, expanding its biologic manufacturing.[25]

In July 2018, Catalent acquired Juniper Pharmaceuticals for $133 million.[26]

In March 2019, Catalent invested more than $27 million to commercialize Zydis Ultra. The investment includes new Zydis lines; changes to facilities in Swindon, UK; and a custom suite for commercial equipment.[27]

In September 2018, Catalent partnered with GB Sciences to develop a cannabinoid-derived medicine for Parkinson's disease utilizing the Zydis delivery method.[28]

In May 2019, Catalent acquired Paragon Bioservices for $1.2 billion to expand its gene-therapy manufacturing capabilities.[29][30] By October 2019, Paragon's employee count doubled since the April acquisition.[31]

2020–present

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In January 2020, Catalent purchased a manufacturing facility located in Anagni, Italy, from Bristol-Myers Squibb, to manufacture and package biologic and oral solid dose products for multiple companies.[32]

In February 2020, Catalent agreed to acquire MaSTherCell, a Belgian gene and cell therapy manufacturer, for $315 million, to expand into cell therapy development.[33][34]

In 2020, Catalent partnered with multiple drugmakers, including Pfizer, Johnson & Johnson,[35] AstraZeneca,[36] and Moderna[37] to provide manufacturing, vial filling and packaging capabilities for COVID-19 vaccines.[38][39] In the partnership with AstraZeneca, Catalent provided manufacturing from its Maryland facility and vial filling and packaging from its Italian facility.[40] Catalent also partnered with ViralClear to manufacture a COVID-19 treatment candidate at Catalent's facility in St. Petersburg, Florida.[41]

In August 2021, Catalent acquired German gene therapy development firm Rheincell Therapeutics.[42] That month, Catalent also acquired Bettera Holdings, a nutritional supplement company, for $1 billion to provide capability to manufacture vitamins, minerals and supplements in gummy form.[43]

In October 2021, Catalent opened a 6,000 square-meter clinical supply facility in Shiga, Japan.[44]

In August 2022, the company acquired Metrics Contract Services, a contract manufacturing organization, for $475 million.[45]

In October 2022, Catalent announced a $12M expansion at a Kansas City, Missouri facility.[46]

In January 2023, Catalent partnered with Sarepta Therapeutics to manufacture delandistrogene moxeparvovec (SRP-9001). Sarepta's most advanced gene therapy candidate for the treatment of Duchenne muscular dystrophy (DMD).[47][48]

In December 2024, Novo Holdings A/S acquired Catalent for $16.5 billion. As part of the transaction, Novo Nordisk acquired three manufacturing facilities from parent Novo Holdings for $11 billion to scale up production to meet the demand of Wegovy and Ozempic.[49][50]

Financials

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Annual Financial Table[1]
# 2016 2017 2018 2019 2020 2021 2022 2023
Sales/Revenue 1.85bn 2.08bn 2.46bn 2.52bn 3.09bn 3.998bn 4.828bn 4.863bn
Total Current Assets 3.09bn 2.45bn 4.53bn 6.18bn 7.78bn 9.112bn 10.507bn 10.777bn
Net Operating Cash Flow 155.3M 299.5M 374.5M 247.7M 440.3M 0.585bn 0.519bn −0.256bn

References

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  1. ^ a b c "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 6 September 2024.
  2. ^ "COMPANY NEWS;CARDINAL HEALTH TO BUY PCI SERVICES FOR $145 MILLION". The New York Times. Bloomberg News. 25 July 1996.
  3. ^ "Cardinal Health to Buy PCI In Deal Worth $201 Million". The Wall Street Journal. 25 July 1996.
  4. ^ Morrow, David J. (19 May 1998). "Cardinal Health in Surprise $2.2 Billion Deal". The New York Times.
  5. ^ Balu, Rekha (19 May 1998). "Cardinal Health Agrees to Acquire Scherer for $2.07 Billion in Stock". The Wall Street Journal.
  6. ^ a b "Catalent completes acquisition of R P Scherer Eberbach". Manufacturing Chemist. 1 March 2012.
  7. ^ Kuehn, Steven (6 October 2014). "Container Innovation's Prairie Home". Endeavor Business Media.
  8. ^ "Cardinal Health subsidiary completes acquisition". American City Business Journals. 9 January 2001.
  9. ^ Vollmer, Sabine; Baysden, Chris (18 March 2002). "Cardinal Health to acquire Magellan". American City Business Journals.
  10. ^ "Cardinal buys out partners in biotech firm". American City Business Journals. 29 September 2003.
  11. ^ "COMPANY NEWS; DRUG WHOLESALER TO BUY PACKAGING COMPANY". The New York Times. Bloomberg News. 30 October 2003.
  12. ^ "Cardinal Health Completes Sale of Pharmaceutical Technologies and Services Segment to The Blackstone Group". Dublin, Ohio: The Blackstone Group. 10 April 2007.
  13. ^ "Formerly Cardinal Health PTS, Newly Named Catalent Now Operates as Independent Company". Biospace. 21 June 2007.
  14. ^ "Catalent Completes Acquisition Of Clinical Trials Supplies Business Of Aptuit LLC". Fierce Biotech. 22 February 2012.
  15. ^ "Catalent completes Aptuit deal". BioPharma-reporter.com. 20 February 2012.
  16. ^ Wasserman, Robert (8 September 2016). "2 big companies and 1 small one to target in the pharma/biotech space". TheStreet.com.
  17. ^ Tremblay, Jean-François (18 March 2013). "Catalent Sets Chinese Ventures". Chemical & Engineering News.
  18. ^ "Catalent Raises China Stakes with Two Deals". Mary Ann Liebert. 11 March 2013.
  19. ^ "Catalent, Inc. Announces Pricing of Its Initial Public Offering". Business Wire. 31 July 2014.
  20. ^ Lorenzetti, Laura (31 July 2014). "Catalent delivers with $871 million biotech IPO". Fortune.
  21. ^ "Catalent Acquires Micron Technologies, Adds Particle Engineering Capabilities to Portfolio". Pharmtech. 13 November 2014.
  22. ^ "Catalent to Acquire Pharmatek". Mary Ann Liebert. 13 September 2016.
  23. ^ Thayer, Ann M. (19 September 2016). "Catalent will buy Pharmatek Labs". Chemical & Engineering News.
  24. ^ "Catalent Biologics and Triphase Accelerator Corporation Announce License Agreement to Advance SMARTag™ ADC to Clinic" (Press release). GlobeNewswire. 4 October 2016.
  25. ^ Mathias, Tamara (19 September 2017). Ravikumar, Sai Sachin (ed.). "Catalent to buy Cook Pharmica for $950 mln". Reuters.
  26. ^ Palmer, Eric (3 July 2018). "Catalent extends expansion with $133M deal for Juniper Pharmaceuticals". Fierce Pharma.
  27. ^ "Catalent Invests in Zydis Ultra Commercialization". PharmTech. 20 March 2019.
  28. ^ "Catalent Selected to Provide Oral Delivery Systems for GB Sciences' Proprietary Parkinson's Disease Therapies" (Press release). PR Newswire. 26 September 2018.
  29. ^ Palmer, Eric (21 May 2019). "Catalent's new prize, Paragon, adding capacity to make Sarepta gene therapies". Fierce Pharma.
  30. ^ Chin, Kimberly; Hopkins, Jared S. (15 April 2019). "Catalent to Buy Paragon Bioservices for $1.2 Billion". The Wall Street Journal.
  31. ^ Eichensehr, Morgan (17 October 2019). "Paragon growing quickly toward 1,000 employees after Catalent acquisition". American City Business Journals. Archived from the original on 29 October 2020.
  32. ^ "Bristol-Myers Squibb Completes Divestment of Manufacturing Facility in Anagni, Italy" (Press release). New York City: Business Wire. 7 January 2020.
  33. ^ Palmer, Eric (3 February 2020). "Catalent laying out $315M to snatch another gene therapy CDMO". Fierce Pharma.
  34. ^ "Catalent adds to regenerative therapy portfolio with $315m acquisition". Manufacturing Chemist. 3 February 2020.
  35. ^ "Pfizer to outsource some drug production, focus on coronavirus vaccine". CNBC. Reuters. 9 May 2020.
  36. ^ Joseph, Saumya Sibi (15 June 2020). Chakrabarty, Saumyadeb (ed.). "AstraZeneca Picks Catalent for Packaging, Supplying Potential COVID-19 Vaccine". Reuters.
  37. ^ "Moderna Is the Latest Coronavirus Vaccine Partner for Catalent". Barron's. Archived from the original on 25 June 2020.
  38. ^ Loftus, Peter; Hinshaw, Drew (27 May 2020). "'Vaccine Nationalism': A New Dynamic in the Race to Quash Coronavirus". The Wall Street Journal.
  39. ^ Steenhuysen, Julie; Kelland, Kate (25 June 2020). "Vaccine makers face biggest medical manufacturing challenge in history". Reuters.
  40. ^ Eichensehr, Morgan (26 August 2020). "AstraZeneca taps Catalent Inc. to manufacture Covid-19 vaccine candidate in Maryland". American City Business Journals.
  41. ^ Brezina-Smith, Veronica (23 June 2020). "Manufacturer to help develop potential Covid treatment at St. Pete facility". American City Business Journals.
  42. ^ "Catalent Finalizes RheinCell Therapeutics Acquisition". BioPharm International. 6 August 2021. Archived from the original on 9 August 2021.
  43. ^ Hopkins, Jared S. (30 August 2021). "Catalent to Buy Supplement Maker Bettera Holdings for $1 Billion". The Wall Street Journal. ISSN 0099-9660.
  44. ^ Terry, Mark (22 October 2021). "Catalent's Momentum Continues with Up to 600 New Jobs Being Added". BioSpace.
  45. ^ Dunleavy, Kevin (10 August 2022). "New CEO Maselli extends Catalent's expansion blitz with $475M buyout of CDMO Metrics". Fierce Pharma.
  46. ^ "Catalent Announces $12 Million Expansion Program at Kansas City Facility". Contract Pharma. 20 October 2022.
  47. ^ Keenan, Joseph (5 January 2023). "Catalent inks deal to manufacture Sarepta's DMD gene therapy". Fierce Pharma.
  48. ^ "Sarepta and Catalent Expand Strategic Manufacturing Partnership With Commercial Supply Agreement for Duchenne Muscular Dystrophy Gene Therapy Candidate" (Press release). Business Wire. 5 January 2023.
  49. ^ Gilbert, Daniel (5 February 2024). "Novo Nordisk buys manufacturing power as it seeks to ramp up Wegovy". The Washington Post.
  50. ^ Constantino, Annika Kim (5 February 2024). "Novo Nordisk parent to buy Catalent for $16.5 billion to expand Wegovy supply". CNBC.
[edit]
  • Official website
    • Historical business data for Catalent, Inc.:
    • SEC filings
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