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Catalent

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Catalent, Inc.
Company typePublic
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)
Websitecatalent.com
Footnotes / references
Financials as of June 30, 2024.[1]

Catalent, Inc. (Catalent Pharma Solutions) is a multinational corporation headquartered in Somerset, New Jersey. It is a global provider of delivery technologies, development, drug manufacturing, biologics, gene therapies and consumer health products. It employs more than 14,000 people,[2] including approximately 2,400 scientists and technicians. In fiscal year 2020, it generated over $3 billion in annual revenue.[3]

Catalent was formed in April 2007 when affiliates of the Blackstone Group L.P. acquired the core of the pharmaceutical technologies and services (PTS) segment of Cardinal Health, Inc.[4] Cardinal Health created PTS through a series of acquisitions starting with R.P. Scherer Corporation in 1998.[5]

In 2014, Catalent became a public company, listed on the New York Stock Exchange.

History

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Before 2007

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In 1996, Cardinal Health acquired PCI (Headquarters: Philadelphia, Pennsylvania).[6] PCI (Packaging Coordinators Inc.) is a pharmaceutical contract packing service for commercial and clinical packaging.[7]

In 1998, Cardinal Health acquired R.P. Scherer Corporation (Headquarters: Troy, Michigan).[8] Robert Pauli Scherer founded the R.P. Scherer Corporation to commercialize his innovation of softgel encapsulation using the rotary die production process.[9] The following year, in 1999, Cardinal Health acquired Automatic Liquid Packaging, Inc. (Headquarters: Woodstock, Ill.),[6] whose Blow-Fill-Seal Technology allowed Cardinal to enter the sterile product market.[9]

In 2001, Cardinal Health acquired International Processing Corporation, a company that was renowned for its expertise in oral modified-release dosage form development and manufacturing. In 2002, Cardinal Health acquired Magellan Laboratories Inc., a company that specialized in product development expertise.[6] In 2003, Cardinal Health acquired Gala Biotech (Headquarters: Madison, Wisconsin).[6] In the same year, Cardinal Health also acquired Intercare Group PLC, broadening its global capabilities in Europe.[6]

From 2004 to 2006, Cardinal Health further expanded its reach in biotechnology and pharmaceutical markets through multiple acquisitions.[6]

Formation of Catalent in 2007

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In 2007, the pharmaceutical technologies and services segment of Cardinal Health was purchased by Blackstone Group and re-branded as Catalent Pharma Solutions.[4]

After 2007 and initial public offering-2019

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In 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.[10] Catalent also acquired all remaining shares for the R.P Scherer site in Eberbach, Germany.[8][11][12] In 2013, Catalent continued the global expansion of its Softgel capabilities through a joint venture with Zhejiang Jaing Yuan Tang Biotechnology Co, a China-based company, and Relthy Laboratories in Brazil.[13]

Catalent announced its initial public offering in July 2014. After raising more than $870 million, Catalent became a publicly traded company on the New York Stock Exchange (NYSE).[14] The company priced its 42.5 million shares of common stock at $20.50 apiece, with a market capitalization of $2.4 billion. The shares began trading on the NYSE on 31 July 2014, under the ticker symbol CTLT.[14]

In November 2014, Catalent announced it had acquired Micron Technologies, a provider of particle size engineering technologies.[15] The acquisition allowed Catalent to expand its portfolio of drug delivery technologies.[15]

In 2016, Catalent licensed the anti-body drug conjugate (ADC) to Triphase Accelerator to help with oncology development,[16] and bought Pharmatek Laboratories to add spray drying to their manufacturing capabilities.[17] In September 2017, Catalent agreed to acquire Cook Pharmica for $950 million, allowing Catalent to expand their biologic manufacturing.[18] In July 2018, Catalent extended their work with Juniper Pharmaceuticals with a $133 million deal.[19]

Alessandro Maselli was appointed as president and chief operating officer in 2019, a newly created position within Catalent.[20] In March, 2019, Catalent invested more than $27 million to commercialize Zydis Ultra. The investment includes new Zydis lines; changes to one of their facilities in Swindon, UK; and a custom suite for commercial equipment.[21] Later in 2019, Catalent partnered with GB Sciences to develop a cannabinoid-derived medicine for Parkinson's disease utilizing the Zydis delivery method.[22]

In April 2019, Catalent agreed to acquire Paragon Bioservices Inc for $1.2 billion to expand its gene-therapy manufacturing capabilities.[23] The deal was completed in May 2019 and included an agreement with Sarepta Therapeutics, a gene therapy manufacturer.[24] As of October 2019, Paragon's employee numbers have almost doubled since the April acquisition.[25]

In June 2019, Catalent acquired Bristol-Myers' European launch pad to expand its global CDMO.[26]

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.[27] In February 2020, Catalent agreed to acquire MaSTherCell, a Belgian gene and cell therapy manufacturer, for $315 million. The acquisition allows Catalent to expand into cell therapy development.[28][29]

In 2020, Catalent partnered with multiple drugmakers, including Pfizer, Johnson & Johnson,[30] AstraZeneca,[31] and Moderna[32] to provide manufacturing, vial filling and packaging capabilities for COVID-19 vaccine candidates.[33][34] In the partnership with AstraZeneca, Catalent will provide manufacturing from its Maryland facility and vial filling and packaging from its Italian facility.[35] Catalent also partnered with ViralClear to manufacture a COVID-19 treatment candidate at Catalent's St. Petersburg facility.[36] Also in 2021, Catalent acquired German gene therapy development firm Rheincell Therapeutics.[37]

In August 2021, Catalent announced plans to acquire nutritional supplement company Bettera Holdings LLC for $1 billion. The deal will allow Catalent to manufacture vitamins, minerals and supplements in gummy form.[38]

In October 2021, Catalent opened a 6,000 square-meter clinical supply facility in Shiga, Japan.[39]

In October 2022, Catalent announced a $12M expansion at a Kansas City, MO facility.[40]

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).[41][42][43]

In February 2024, Novo Holdings A/S agreed to acquire Catalent for $16.5 billion. On completion, Novo Nordisk would acquire three manufacturing facilities from parent Novo Holdings for $11 billion to scale up production to meet the demand of its obesity and diabetes drugs Wegovy and Ozempic respectively.[44][45]

Financials

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Annual Financial Table[3]
# 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. ^ "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 6 September 2024.
  2. ^ "Catalent Boosts Supply Chain Transparency in Response to COVID-19 Manufacturing Urgency". BioSpace. Archived from the original on 1 November 2020. Retrieved 8 November 2020.
  3. ^ a b "Catalent 2022 Annual Report" (PDF). Catalent Investors. Retrieved 5 June 2023.
  4. ^ a b "Cardinal Health Completes Sale of Pharmaceutical Technologies and Services Segment to The Blackstone Group". Dublin, Ohio: Blackstone Group. 10 April 2007.
  5. ^ "Cardinal Health Agrees to Acquire Scherer for $2.07 Billion in Stock". The Wall Street Journal. 19 May 1998. Retrieved 2 December 2019.
  6. ^ a b c d e f "Cardinal Health's timeline -- CardinalHealth.com". CardinalHealth.com. Archived from the original on 11 April 2015. Retrieved 7 April 2015.
  7. ^ "PCI leads the market in healthcare packaging solutions". PCI Services. Retrieved 7 April 2015.
  8. ^ a b "Catalent completes acquisition of R P Scherer Eberbach". Manufacturing Chemist. 1 March 2012. Retrieved 7 April 2015.
  9. ^ a b Kuehn, Steven (6 October 2014). "Container Innovation's Prairie Home". Pharmaceutical Manufacturing. Retrieved 7 April 2015.
  10. ^ "Catalent completes Aptuit deal". BioPharma-reporter.com. 20 February 2012. Retrieved 7 April 2015.
  11. ^ Wasserman, Robert (8 September 2016). "2 big companies and 1 small one to target in the pharma/biotech space". TheStreet. Retrieved 9 July 2019.
  12. ^ "Gelita and R.P. Scherer End 60 Year Joint Venture". .foodingredientsfirst.com/. Retrieved 9 July 2019.
  13. ^ Stanton, Dan (10 October 2013). "Catalent's Brazilian acquisition supports global softgel strategy". inPharma-technologist.com. Retrieved 7 April 2015.
  14. ^ a b "Catalent Issues Initial Public Offering". No. 8. PharmTech.com. Pharmaceutical Technology Sourcing and Management. 4 August 2014. Retrieved 7 April 2015.
  15. ^ a b "Catalent Acquires Micron Technologies, Adds Particle Engineering Capabilities to Portfolio". Pharmtech. 13 November 2014.
  16. ^ "Catalent out-licenses ADC to Triphase". BioPharma Dive. Retrieved 4 October 2019.
  17. ^ "Catalent Buys Pharmatek and Lands Spray Drying Technology". Pharmaceutical Investing News. 14 September 2016.
  18. ^ "Catalent targets biologics with Cook Pharmica acquisition". Pharmaceutical Commerce. Pharmaceutical Commerce - January/February 2009. 19 September 2017. Retrieved 21 November 2019.
  19. ^ "Catalent extends expansion with $133M deal for Juniper Pharmaceuticals". Fierce Pharma. 3 July 2018. Retrieved 16 August 2019.
  20. ^ "Catalent Names Alessandro Maselli President and Chief Operating Officer". finance.yahoo.com. Retrieved 19 February 2019.
  21. ^ "Catalent Invests in Zydis Ultra Commercialization". pharmtech.com. 20 March 2019.
  22. ^ "Wellness products take off in the growing recreational cannabis market". Marijuana Business Magazine. 1 October 2019. Archived from the original on 9 December 2019. Retrieved 9 December 2019.
  23. ^ Hopkins, Kimberly Chin and Jared S. (15 April 2019). "Catalent to Buy Paragon Bioservices for $1.2 Billion". Wall Street Journal. Retrieved 1 November 2019.
  24. ^ "Catalent's new prize, Paragon, adding capacity to make Sarepta gene therapies". Fierce Pharma. 21 May 2019. Retrieved 26 November 2019.
  25. ^ "Paragon growing quickly toward 1,000 employees after Catalent acquisition". Baltimore Business Journal. 17 October 2019. Archived from the original on 29 October 2020. Retrieved 23 December 2019.
  26. ^ "'It's a growth play': Catalent acquires Bristol-Myers' European launch pad, expanding global CDMO ops". Endpoints News. Retrieved 18 October 2019.
  27. ^ "Bristol-Myers offloads manufacturing plant to Catalent". Outsourcing-Pharma. 13 January 2020.
  28. ^ "Catalent laying out $315M to snatch another gene therapy CDMO". FiercePharma. Retrieved 3 February 2020.
  29. ^ "Catalent adds to regenerative therapy portfolio with $315m acquisition". Manufacturing Chemist. 3 February 2020.
  30. ^ "Pfizer to outsource some drug production, focus on coronavirus vaccine". CNBC. 9 May 2020. Retrieved 16 June 2020.
  31. ^ "AstraZeneca Picks Catalent for Packaging, Supplying Potential COVID-19 Vaccine". The New York Times. 15 June 2020. Retrieved 16 June 2020.
  32. ^ "Moderna Is the Latest Coronavirus Vaccine Partner for Catalent". Barrons. Archived from the original on 25 June 2020. Retrieved 7 July 2020.
  33. ^ "'Vaccine Nationalism': A New Dynamic in the Race to Quash Coronavirus". The Wall Street Journal. 27 May 2020. Retrieved 16 June 2020.
  34. ^ "Vaccine makers face biggest medical manufacturing challenge in history". Reuters. 25 June 2020.
  35. ^ "AstraZeneca taps Catalent Inc. to manufacture Covid-19 vaccine candidate in Maryland". Baltimore Business Journal. 26 August 2020. Retrieved 24 September 2020.
  36. ^ "Manufacturer to help develop potential Covid treatment at St. Pete facility". Tampa Bay Business Journal. Retrieved 17 July 2020.
  37. ^ "Catalent Finalizes RheinCell Therapeutics Acquisition". BioPharm International. 6 August 2021. Archived from the original on 9 August 2021.
  38. ^ Hopkins, Jared S. (30 August 2021). "WSJ News Exclusive | Catalent to Buy Supplement Maker Bettera Holdings for $1 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 30 August 2021.
  39. ^ "Catalent's Momentum Continues with Up to 600 New Jobs Being Added". BioSpace. Retrieved 7 January 2022.
  40. ^ "Catalent Announces $12 Million Expansion Program at Kansas City Facility". Contract Pharma. Retrieved 2 December 2022.
  41. ^ Keenan, Joseph (5 January 2023). "Catalent inks deal to manufacture Sarepta's DMD gene therapy". Fierce Pharma. Retrieved 24 January 2023.
  42. ^ "Sarepta marches forward with its potential DMD gene therapy and an expanded Catalent manufacturing deal". Endpoints News. Retrieved 24 January 2023.
  43. ^ "Sarepta and Catalent Expand Strategic Manufacturing Partnership With Commercial Supply Agreement for Duchenne Muscular Dystrophy Gene Therapy Candidate". www.businesswire.com. 5 January 2023. Retrieved 24 January 2023.
  44. ^ Gilbert, Daniel (5 February 2024). "Novo Nordisk buys manufacturing power as it seeks to ramp up Wegovy". The Washington Post.
  45. ^ Constantino, Annika Kim (5 February 2024). "Novo Nordisk parent to buy Catalent for $16.5 billion to expand Wegovy supply". CNBC.
[edit]
  • Official website
  • Business data for Catalent, Inc.:
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