Catalent

Last updated

Catalent, Inc.
Company type Public
Industry Pharmaceuticals
Predecessor Cardinal Health PTS
Founded2007;17 years ago (2007)
Headquarters Somerset, New Jersey, U.S.
Number of locations
52 (2023)
Key people

Alessandro Maselli
(President, CEO & Director),
Matti Masanovich
(CFO)
ServicesDrug pre-formulation, formulation, analytical testing, clinical and commercial manufacturing, clinical packaging and supply chain, regulatory consulting
RevenueDecrease2.svg US$4.26 billion (2023)
Decrease2.svgUS$−163 million (2023)
Decrease2.svgUS$−256 million (2023)
Total assets Increase2.svgUS$10.8 billion (2023)
Total equity Decrease2.svgUS$4.61 billion (2023)
Number of employees
17,800 (2023)
Website catalent.com
Footnotes /references
Financials as of June 30,2023. [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]

Contents

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

Before 2007

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

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

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

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

Annual Financial Table [3]
#20162017201820192020202120222023
Sales/Revenue1.85bn2.08bn2.46bn2.52bn3.09bn3.998bn4.828bn4.863bn
Total Current Assets3.09bn2.45bn4.53bn6.18bn7.78bn9.112bn10.507bn10.777bn
Net Operating Cash Flow155.3M299.5M374.5M247.7M440.3M0.585bn0.519bn−0.256bn

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References

  1. ↑ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 8 December 2023.
  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. 1 2 "Catalent 2022 Annual Report" (PDF). Catalent Investors. Retrieved 5 June 2023.
  4. 1 2 "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. 1 2 3 4 5 6 "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. 1 2 "Catalent completes acquisition of R P Scherer Eberbach". Manufacturing Chemist. 1 March 2012. Retrieved 7 April 2015.
  9. 1 2 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. 1 2 "Catalent Issues Initial Public Offering". No. 8. PharmTech.com. Pharmaceutical Technology Sourcing and Management. 4 August 2014. Retrieved 7 April 2015.
  15. 1 2 "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.
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