Catalent buys Paragon in hot gene medicine market

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By Mike Turner
15 Apr 2019

The US’s Catalent will buy Paragon Bioservices in a debt and equity financed $1.2bn deal, as consolidation in the gene therapy market builds pace.

Catalent makes advanced delivery technologies and development solutions for drugs, biologic products and consumer health products. Paragon is involved in manufacturing products for gene therapy.

Catalent will finance the transaction using a $650m term loan and by issuing $650m of convertible preferred stock to funds linked to private equity firm Leonard Green & Partners, ...

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