The completion of the transaction is subject tocustomary closing conditions including approval from regulatory authorities,and is expected to occur by the end of this year. No other terms of the transactionwere disclosed.
"This transaction builds important expertise,scale and capability for our Development & Clinical Services business tobetter meet our customers' needs globally," says John Chiminski, president andCEO of Catalent. "This transaction also strengthens Catalent's globalleadership in development solutions and advanced delivery technologies fordrugs and biologics."
Catalent's Development & Clinical Servicesbusiness already offers clinical supply services, analytical chemistry,respiratory product development, regulatory consultin, and biologics cell linedevelopment, and Chiminski says the company has made "substantial recentinvestments" to extend the capabilities and capacity of the business, maintainingthis his company provides the broadest range of expert development services,which can drive more efficient development timelines and help customers bringmore compounds and better products to market faster.
For Aptuit, the focus of the business has been tostreamline pharmaceutical development through offering that include solid statechemistry, sterile fill parenterals, and high potency active pharmaceuticalingredients.
"This agreement puts Aptuit in a better positionto focus on the scientific excellence that our customers want," says Timothy C.Tyson, chairman and CEO of Aptuit. "Focusing on our expertise in discovery anddevelopment services leverages our leadership position, and allows us toconcentrate on delivering high-growth, high-value scientific services fromdiscovery to mid-phase development."
In July 2010, Aptuit signed a deal to partner withSiena Biotech SpA of Italy, which took a minority stake in Aptuit's Italianoperations in Verona. Aptuit had that very same month purchased those operationsfrom GlaxoSmithKline. This partnership make Aptuit a "provider of choice" forSiena Biotech's development pipeline, which is focused in the therapeutic areasof oncology, Alzheimer's disease and Huntington's disease, and oncology.
Formerly Global Pharmaceutical Development Inc.,the name changed to Aptuit in 2005, at which time that company also raised $150million from a private equity firm, buying later that same year three QuintilesTransnational business units—pharmaceutical sciences, preclinical services, andclinical trial supplies. It also snatched up Almedica International and InfoProSolutions that year. The company has all this time been expanding overseas withstrategic deals in India, Scotland, Singapore, Japan and elsewhere, and boasts 800customers.
Catalent for its part, notes that it has more than75 years of experience helping customers "get more molecules to market faster,enhance product performance, and ensure reliable product supply." In thiseffort, Catalent employs more than 8,000 people at 24 facilities worldwide and infiscal year 2010 generated more than $1.7 billion in annual revenue.