Catalent (NYSE:CTLT) said today that it closed its acquisition of Canada-based Accucaps and its pharmaceutical soft-gel manufacturing capabilities. The Somerset, N.J.-based company did not disclose the deal’s financial details.
In November last year, Catalent said that it planned to fund the Accucaps buy with a $400 million debt offering.
The company also plans to use the private placement offering of euro-dominated senior unsecured notes due in 2024 to repay some of the outstanding borrowings under its senior secured credit facilities, any accrued and unpaid interest, related fees and expenses.
Accucaps has 2 facilities in Windsor and Strathroy, Ontario, with high-potency prescription soft-gel development and manufacturing capabilities and more than 500 employees.
“Significant investments already made by Accucaps align well with Catalent’s own strategic goals, to offer our customers access to more products, capacity, and integrated solutions for differentiated products and better treatments,” Catalent’s president of soft-gel technologies Aris Gennadios said in November.
Earlier in November, Catalent posted 1st fiscal quarter profits of $4.6 million, or 4¢ per share, on sales of $442.2 million for the 3 months ended Sept. 30, for a bottom-line slide of -60.7% on sales growth of 4.5% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 16¢, a penny ahead of consensus on The Street, where analysts were looking for sales of $430.2 million.
The company saw strong revenue growth in Q1 of 2017 and it’s acquisition of Pharmatek added spray drying technology to its portfolio of drug delivery technologies.
