US-based Catalent has agreed to acquire Juniper Pharmaceuticals in a deal valued at around $133m.
As per terms of the deal, Juniper will purchase all outstanding shares of Juniper by paying $11.50 per share in cash.
Juniper’s core businesses include Crinone (progesterone gel) franchise and Juniper Pharma Services, which offers high-end fee-for-service pharmaceutical development and clinical trials manufacturing to the customers.
The acquired business will help Juniper to expand and strengthen Catalent’s offerings in formulation development, bioavailability solutions and clinical-scale oral dose manufacturing, in addition to complementing its integrated global clinical and commercial supply network.
Catalent oral drug delivery president Jonathan Arnold said: “Juniper’s proven solutions and capabilities will further support Catalent’s strategic goal to be the most comprehensive partner for pharmaceutical innovators.”
Juniper is specialized in solid-state and preclinical formulation screening for lead-candidate selection, phase-appropriate dose-form development. It will offer advanced technologies for challenging molecules.
In 2016, Catalent acquired Pharmatek Laboratories and also invested in its San Diego facility to turn it as a center of excellence for early drug development on the US West Coast.
Juniper employs around 150 people, who have scientific expertise in formulation development and supply.
The employees will support Catalent to expand its current portfolio of solid-state screening, preformulation, formulation, analytical, and bioavailability enhancement solutions, including development of spray-dried dispersions, with integrated development, analytical, and clinical manufacturing co-located in its Nottingham facility.
Catalent also noted that it will continue to support Juniper’s Crinone franchise marketed by Merck outside of the US.
Earlier, Juniper licensed its intravaginal ring development pipeline to Daré Bioscience. Catalent will not engage in the further development of the program.
Subject to certain customary closing conditions, the deal is expected to complete in the first quarter of Catalent’s 2019 fiscal year.
Juniper president and CEO Alicia Secor said: “This transaction, which has been approved unanimously by the Juniper Board of Directors following the recommendation of a special committee of independent directors, is the culmination of a diligent and extensive process to pursue strategic alternatives in order to maximize shareholder value.”