The Somerset, N.J.-based company said the private placement offering of euro-dominated senior unsecured notes due in 2024 will also be used to repay some of the outstanding borrowings under its senior secured credit facilities, any accrued and unpaid interest, related fees and expenses.
Canada-based Accucaps has 2 facilities with high-potency prescription soft-gel development and manufacturing capabilities. Financial details of the acquisition have not been disclosed.
“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 prepared remarks.
Earlier this month, 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.
CTLT shares were trading at $24.75 in mid-morning activity today, down -0.7%.