Catalent said today that it plans to purchase Cook Pharmica for $950 million in cash.

Cook Pharmica, a unit of privately-held medical device maker Cook Group, is a contract manufacturer that develops biologics-based drug compounds.

The deal readies Catalent for an expansion of its biologics biz. Catalent will have access to Cook Pharmica’s Indiana-based facility after it closes the deal in the fourth quarter, the company said.

Catalent is slated to pay $750 million when the deal closes. The rest of the payment will come in four annual installments. In its last fiscal year, Cook Pharmica reeled in $179 million in revenue, Reuters said.

Catalent reported that it plans to finance the deal with new debt and equity, obtaining funds from Morgan Stanley, J.P. Morgan, RBC Capital Markets and BofA Merrill Lynch.

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