Catalent's New Acquisition will Expand High-Potent Capabilities, Oral Manufacturing Capacity: Report

Catalent Inc CTLT agreed to acquire Metrics Contract Services, a full-service specialty Contract Development and Manufacturing Organization, for $475 million from Mayne Pharma Group Limited.
Upon completion, the acquisition will strengthen Catalent's integrated oral solid formulation development, manufacturing, and packaging capabilities.
The deal will also expand Catalent's capacity to handle highly potent compounds.
Metrics Contract operates a 333,000-square-foot facility in Greenville, North Carolina. It includes 16 manufacturing suites, with 11 designed to handle highly potent compounds and two packaging lines.
The facility's estimated annual production capacity exceeds one billion oral solid dose units.
The acquisition is expected to close before the end of 2022, and a team of over 400 employees will join Catalent.
Mayne Pharma and Catalent have also agreed on a long-term supply agreement whereby the Greenville facility will continue manufacturing multiple Mayne Pharma products.
Catalent held cash & cash equivalents of $786 million at the end of the March quarter.
Price Action: CTLT shares closed at $108.13 on Tuesday.