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Catalent to Acquire Drug Development Specialist Pharmatek Laboratories.

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M2 EQUITYBITES-September 14, 2016-Catalent to Acquire Drug Development Specialist Pharmatek Laboratories

(C)2016 M2 COMMUNICATIONS http://www.m2.com

14 September 2016 - Somerset, New Jersey-based drug delivery technology provider Catalent, Inc.'s (NYSE: CTLT) Catalent Pharma Solutions, Inc. unit has agreed to acquire West Coast, US-based drug development specialist Pharmatek Laboratories, Inc., the company said.

Catalent said that the purchase price will not be disclosed as it is not material to the company's financial results.

The transaction is subject to customary closing conditions and is expected to close in the next few weeks.

Catalent intends to pay for this all-cash acquisition through a combination of existing cash and borrowings under Catalent's existing revolving credit facility.

The acquisition will not change Catalent's fiscal 2017 financial guidance.

Founded in 1999, Pharmatek provides dosage form development and clinical-scale cGMP manufacturing of oral...

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