Catalent (NYSE:CTLT) said today that it inked a $139 million deal to acquire Juniper Pharmaceuticals (NSDQ:JNP) and its early-stage product development services.
The company noted that its Juniper acquisition, set at $11.50 per share, will complement Catalent’s formulation development offerings, bioavailability solutions and clinical-scale oral dose manufacturing capabilities.
“Juniper’s proven solutions and capabilities will further support Catalent’s strategic goal to be the most comprehensive partner for pharmaceutical innovators,” Jonathan Arnold, president of Catalent Oral Drug Delivery, said in prepared remarks. “Juniper’s scientific expertise in early-phase product development and supply will help our customers unlock the full potential of their molecules and provide better treatments to patients, faster.”
Catalent’s buyout includes Juniper’s 150 employees and the chance to add to its formulation and analytical solutions, including development and clinical manufacturing resources located in Juniper’s Nottingham facility.
Catalent will also support Juniper’s Crinone progesterone gel franchise, which is sold by Merck KGaA outside of the U.S.
“This transaction, which has been approved unanimously by the Juniper Board of Directors following the recommendation of a special committee of independent directors, is the culmination of a diligent and extensive process to pursue strategic alternatives in order to maximize shareholder value,” Alicia Secor, Juniper’s president & CEO, added. “Catalent’s offer to acquire Juniper recognizes the value of Juniper’s businesses, Juniper Pharma Services and Crinone.”
The acquisition is expected to close in the first quarter of Catalent’s 2019 fiscal year.
