New Jersey drug maker to buy Maryland's Paragon Bioservices for $1.2B
Catalent Inc., a New Jersey-based contract drug manufacturer, said Monday it will acquire Maryland's Paragon Bioservices Inc. for $1.2 billion.
Catalent (NYSE: CTLTC) will fund the acquisition using the proceeds of a $650 million incremental term loan from JPMorgan Chase Bank, as well as the issuance of $650 million of new convertible preferred stock to Leonard Green& Partners L.P. Peter Zippelius, a partner at LGP, will join Catalent ’s board of directors as part of the new investment.
The all-cash…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Morgan Eichensehr Source Type: news