Catalent is aiming to secure its long-term growth with the $1.2 billion acquisition of gene therapy specialist Paragon Bioservices.
Catalent said that the deal will provide new expertise and capabilities in the fast-growing gene therapy field.
“Paragon’s unparalleled expertise in the rapidly growing market of gene therapy manufacturing will be a transformative addition to our business that we believe will accelerate our long-term growth,” said Chair and CEO John Chiminski.
“Paragon brings to Catalent a complementary capability that will fundamentally enhance our biologics business and our end-to-end integrated biopharmaceutical solutions for customers.”
Pete Buzy, Paragon’s President and CEO, added: “This transaction will enable us to achieve our next stage of development and expand our capabilities and platform for the benefit of our customers and their patients.”