Catalent
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,[3] including approximately 2,400 scientists and technicians. In fiscal year 2019, it generated over $2.5 billion in annual revenue.[4]
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Type | Public company |
---|---|
Industry | Pharmaceuticals |
Predecessor | Cardinal Health PTS |
Founded | 2007 |
Headquarters | Somerset, New Jersey, U.S. |
Number of locations | 39 (2019)[1] |
Key people | John Chiminski (Chair, CEO), Alessandro Maselli (President, COO), Wetteny Joseph[2] (Executive Vice President, CFO) |
Services | Drug pre-formulation, formulation, analytical testing, clinical and commercial manufacturing, clinical packaging and supply chain, regulatory consulting |
Revenue | US$2,518.0 million (2019)[1] |
US$273.9 million (2019)[1] | |
US$137.4 million (2019)[1] | |
Number of employees | 14,000 (2020) |
Website | catalent |
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.[5] Cardinal Health created PTS through a series of acquisitions starting with R.P. Scherer Corporation in 1998.[6]
In 2014, Catalent became a public company and is listed on the New York Stock Exchange.
History
Before 2007
In 1996, Cardinal Health acquired PCI (Headquarters: Philadelphia, Pennsylvania).[7] PCI (Packaging Coordinators Inc.) is a pharmaceutical contract packing service for commercial and clinical packaging.[8]
In 1998, Cardinal Health acquired R.P. Scherer Corporation (Headquarters: Troy, Michigan).[9] Robert Pauli Scherer founded the R.P. Scherer Corporation to commercialize his innovation of softgel encapsulation using the rotary die production process.[10] The following year, in 1999, Cardinal Health acquired Automatic Liquid Packaging, Inc. (Headquarters: Woodstock, Ill.),[7] whose Blow-Fill-Seal Technology allowed Cardinal to enter the sterile product market.[10]
In 2002, Cardinal Health acquired Magellan Laboratories Inc., a company that specialized in product development expertise.[7] In 2003, Cardinal Health acquired Gala Biotech (Headquarters: Madison, Wisconsin).[7] In the same year, Cardinal Health also acquired Intercare Group PLC, broadening its global capabilities in Europe.[7]
From 2004 to 2006, Cardinal Health further expanded its reach in biotechnology and pharmaceutical markets through multiple acquisitions.[7]
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.[5]
After 2007 and initial public offering
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.[11] Catalent also acquired all remaining shares for the R.P Scherer site in Eberbach, Germany.[9][12][13] 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.[14]
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).[15] 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.[15]
In November 2014, Catalent announced it had acquired Micron Technologies, a provider of particle size engineering technologies.[16][17] The acquisition allowed Catalent to expand its portfolio of drug delivery technologies.[16]
In 2016, Catalent licensed the anti-body drug conjugate (ADC) to Triphase Accelerator to help with oncology development,[18] and bought Pharmatek Laboratories to add spray drying to their manufacturing capabilities.[19] In September 2017, Catalent agreed to acquire Cook Pharmica for $950 million, allowing Catalent to expand their biologic manufacturing.[20] In July 2018, Catalent extended their work with Juniper Pharmaceuticals with a $133 million deal.[21]
Alessandro Maselli was appointed as president and chief operating officer in 2019, a newly created position within Catalent.[22] 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.[23] Later in 2019, Catalent partnered with GB Sciences to develop a cannabinoid-derived medicine for Parkinson's disease utilizing the Zydis delivery method.[24]
In April 2019, Catalent agreed to acquire Paragon Bioservices Inc for $1.2 billion to expand its gene-therapy manufacturing capabilities.[25] The deal was completed in May 2019 and included an agreement with Sarepta Therapeutics, a gene therapy manufacturer.[26] As of October 2019, Paragon's employee numbers have almost doubled since the April acquisition.[27]
In June 2019, Catalent acquired Bristol-Myers' European launch pad to expand its global CDMO.[28]
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.[29] 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.[30][31]
In 2020, Catalent partnered with multiple drugmakers, including Pfizer, Johnson & Johnson,[32] AstraZeneca,[33] and Moderna[34] to provide manufacturing, vial filling and packaging capabilities for COVID-19 vaccine candidates.[35][36] In the partnership with AstraZeneca, Catalent will provide manufacturing from its Maryland facility and vial filling and packaging from its Italian facility.[37] Catalent also partnered with ViralClear to manufacture a COVID-19 vaccine candidate at Catalent's St. Petersburg facility.[38]
On December 15, 2020, Vice President Mike Pence toured Catalent’s Bloomington facility where the company is filling and packaging vials for Moderna's COVID-19 vaccine.[39][40] As of December, Catalent was processing up to 500,000 doses per day.[39]
Financials
# | 2016 | 2017 | 2018 | 2019 |
---|---|---|---|---|
Sales/Revenue | 1.85B | 2.08B | 2.46B | 2.52B |
Total Current Assets | 3.09B | 2.45B | 4.53B | 6.18B |
Net Operating Cash Flow | 155.3M | 299.5M | 374.5M | 247.7M |
References
- "Catalent, Inc. 2019 Annual Report" (PDF). Retrieved 28 January 2020.
- "Wetteny Joseph Believes in You". Retrieved 30 July 2020.
- "Catalent Boosts Supply Chain Transparency in Response to COVID-19 Manufacturing Urgency". BioSpace. Retrieved 8 November 2020.
- "Catalent, inc. 2019 Annual Report" (PDF). Catalent Investors. Retrieved 27 November 2019.
- "Cardinal Health Completes Sale of Pharmaceutical Technologies and Services Segment to The Blackstone Group". Dublin, Ohio: Blackstone Group. 10 April 2007.
- "Cardinal Health Agrees to Acquire Scherer for $2.07 Billion in Stock". The Wall Street Journal. 19 May 1998. Retrieved 2 December 2019.
- "Cardinal Health's timeline -- CardinalHealth.com". CardinalHealth.com. Archived from the original on 11 April 2015. Retrieved 7 April 2015.
- "PCI leads the market in healthcare packaging solutions". PCI Services. Retrieved 7 April 2015.
- "Catalent completes acquisition of R P Scherer Eberbach". Manufacturing Chemist. 1 March 2012. Retrieved 7 April 2015.
- Kuehn, Steven (6 October 2014). "Container Innovation's Prairie Home". Pharmaceutical Manufacturing. Retrieved 7 April 2015.
- "Catalent completes Aptuit deal". BioPharma-reporter.com. 20 February 2012. Retrieved 7 April 2015.
- Wasserman, Robert (8 September 2016). "2 big companies and 1 small one to target in the pharma/biotech space". TheStreet. Retrieved 9 July 2019.
- "Gelita and R.P. Scherer End 60 Year Joint Venture". .foodingredientsfirst.com/. Retrieved 9 July 2019.
- Stanton, Dan (10 October 2013). "Catalent's Brazilian acquisition supports global softgel strategy". inPharma-technologist.com. Retrieved 7 April 2015.
- "Catalent Issues Initial Public Offering" (8). PharmTech.com. Pharmaceutical Technology Sourcing and Management. 4 August 2014. Retrieved 7 April 2015.
- "Catalent Acquires Micron Technologies, Adds Particle Engineering Capabilities to Portfolio". Pharmtech.
- "Catalent Pharma Solutions acquires Micron Technologies - 2014-11-13". Crunchbase. Retrieved 25 June 2019.
- "Catalent out-licenses ADC to Triphase". BioPharma Dive. Retrieved 4 October 2019.
- "Catalent Buys Pharmatek and Lands Spray Drying Technology". Pharmaceutical Investing News. 14 September 2016.
- "Catalent targets biologics with Cook Pharmica acquisition". Pharmaceutical Commerce. 19 September 2017. Retrieved 21 November 2019.
- "Catalent extends expansion with $133M deal for Juniper Pharmaceuticals". FiercePharma. Retrieved 16 August 2019.
- "Catalent Names Alessandro Maselli President and Chief Operating Officer". finance.yahoo.com. Retrieved 19 February 2019.
- "Catalent Invests in Zydis Ultra Commercialization". pharmtech.com.
- "Wellness products take off in the growing recreational cannabis market". Marijuana Business Magazine. 1 October 2019. Retrieved 9 December 2019.
- Hopkins, Kimberly Chin and Jared S. "Catalent to Buy Paragon Bioservices for $1.2 Billion". WSJ. Retrieved 1 November 2019.
- "Catalent's new prize, Paragon, adding capacity to make Sarepta gene therapies". FiercePharma. Retrieved 26 November 2019.
- "Paragon growing quickly toward 1,000 employees after Catalent acquisition". Baltimore Business Journal. 17 October 2019. Retrieved 23 December 2019.
- "'It's a growth play': Catalent acquires Bristol-Myers' European launch pad, expanding global CDMO ops". Endpoints News. Retrieved 18 October 2019.
- "Bristol-Myers offloads manufacturing plant to Catalent". Outsourcing-Pharma. 13 January 2020.
- "Catalent laying out $315M to snatch another gene therapy CDMO". FiercePharma. Retrieved 3 February 2020.
- "Catalent adds to regenerative therapy portfolio with $315m acquisition". Manufacturing Chemist. 3 February 2020.
- "Pfizer to outsource some drug production, focus on coronavirus vaccine". CNBC. 9 May 2020. Retrieved 16 June 2020.
- "AstraZeneca Picks Catalent for Packaging, Supplying Potential COVID-19 Vaccine". The New York Times. 15 June 2020. Retrieved 16 June 2020.
- "Moderna Is the Latest Coronavirus Vaccine Partner for Catalent". Barrons. Retrieved 7 July 2020.
- "'Vaccine Nationalism': A New Dynamic in the Race to Quash Coronavirus". The Wall Street Journal. 27 May 2020. Retrieved 16 June 2020.
- "Vaccine makers face biggest medical manufacturing challenge in history". Reuters. 25 June 2020.
- "AstraZeneca taps Catalent Inc. to manufacture Covid-19 vaccine candidate in Maryland". Baltimore Business Journal. 26 August 2020. Retrieved 24 September 2020.
- "Manufacturer to help develop potential Covid treatment at St. Pete facility". Tampa Bay Business Journal. Retrieved 17 July 2020.
- "How Will Moderna Meet The Demand For Its COVID-19 Vaccine?". NPR.org. Retrieved 15 January 2021.
- "Pence encourages COVID-19 vaccination during Bloomington visit". The Indianapolis Star. Retrieved 15 January 2021.