Catalent, Inc. (NASDAQ: CTLT), a contract research organization (CRO), announced its acquisition of thinly traded nano cap Juniper Pharmaceuticals (NASDAQ: JPR) for $139.6 million.
Catalent, based in Somerset, New Jersey, offers development services, delivery technologies and supply solutions for drugs and biologics. On a trailing 12-month basis, the company generated revenue of $2.4 billion, and EBITDA of $484.6 million.
Juniper, based in Boston, Massachusetts, focuses on developing novel intra-vaginal therapeutics that address unmet medical needs in women’s health. This deal includes Juniper’s UK-based Juniper Pharma Services division, a high-end CRO.
The transaction represents a total equity value of approximately $139.6 million on a fully-diluted basis, and a premium of 59.7% to Juniper’s unaffected share price on January 30, 2018, the last trading day prior to the date on which Juniper announced its intention to explore strategic alternatives.
This acquisition expands Catalent’s offerings in formulation development, bioavailability solutions and clinical-scale oral dose manufacturing, and will complement its global clinical and commercial network.
Catalent’s previous acquisition of Cook Pharmica LLC was announced in September 2017, for $950 million. Cook Pharmica was then a division of the Cook Group. The Bloomington, Indiana-based division is a biologics-focused contract development and manufacturing organization (CDMO) with capabilities across biologics development, clinical and commercial cell culture manufacturing, formulation, finished-dose manufacturing, and packaging.
