Cook Group and Catalent enter into purchase agreement for Cook Pharmica
Bloomington, Ind. – Today, Cook Group and Catalent announced a purchase agreement for Catalent (NYSE: CTLT) to purchase Cook Pharmica.
Catalent is a leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. Cook Pharmica expands Catalent’s capabilities by adding more drug substance and drug product expertise and capacity to serve patients world wide. Upon completion of the sale, Cook Pharmica and Catalent will create a new leader in the rapidly growing biologics development, analytical, manufacturing and finished product supply industry.
“We only consider opportunities like this when it clearly benefits the patients we serve, our employees, the community, and both companies,” said Yonkman. “In this case, we feel confident that this is a good decision for all involved, including the more than 750 Cook Pharmica employees whose jobs are all secure. All of those employees will become part of Catalent’s growing biologics business and remain under the leadership of Cook Pharmica’s president, Tedd Green.”
With Cook Pharmica’s available space and expertise, Catalent will create a biologics development and manufacturing center of excellence. The purchase allows Cook Pharmica to deepen relationships with customers and grow their already successful business.
“This purchase is a recognition of the hard work, dedication, and community spirit of the men and women who have helped Cook Pharmica to grow. The Bloomington area has been a terrific home for this fast-growing business, and we look forward to further strengthening Cook Pharmica’s partnership with the community in the years to come,” said John Chiminski, president and CEO of Catalent.
Catalent plans to invest aggressively in Cook Pharmica, and in the rest of the Catalent Biologics network to build a true global leader in the biologics market, which will help Catalent to improve the lives of patients around the world.
The completion of the $950 million transaction is subject to customary closing conditions, including approval from regulatory authorities, and is expected to occur in the fourth quarter of this calendar year.
For information from Catalent on the announcement click here.
About Cook Group
Cook Group is a family-owned company with headquarters in Bloomington, Indiana. Our diverse business portfolio includes companies working in life sciences, business services, resorts, property management, and medical devices.
Founded in 1963, Cook Group companies today employ more than 12,000 people around the world. We are committed to improving lives by giving back to our communities, supporting our employees and their families, and serving our customers and their patients. Learn more at www.CookGroup.com.
About Cook Pharmica
Cook Pharmica is a contract development and manufacturing organization (CDMO) that provides biopharmaceutical companies with a unique One Source, One Location model for development, clinical or commercial cell culture manufacturing, parenteral product manufacturing, and secondary packaging. Cook Pharmica was founded in 2004 and over the last 13 years, Cook has invested heavily in its facility, people, and processes.
Catalent is the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. With over 80 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable clinical and commercial product supply. Catalent employs approximately 10,000 people, including over 1,400 scientists, at more than 30 facilities across five continents, and in fiscal 2017 generated more than $2 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey. For more information, visit www.Catalent.com.
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