Juniper Pharmaceuticals, Inc. (NASDAQ: JNP) vaulted Tuesday after the company agreed to be acquired by Catalent, Inc. (NYSE: CTLT) for $11.50 per share in cash.
The Somerset, New Jersey-based Catalent, which boasts a status as the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, today announced that it has agreed to acquire Juniper, including its Nottingham, U.K.-based Juniper Pharma Services division.
When combined with Catalent’s existing industry-leading drug development and manufacturing capabilities in the U.S. and Europe, the acquisition of Juniper will expand and strengthen Catalent’s offerings in formulation development, bioavailability solutions and clinical-scale oral dose manufacturing, and will complement its integrated global clinical and commercial supply network.
Catalent official 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’s scientific expertise in early-phase product development and supply will help our customers unlock the full potential of their molecules and provide better treatments to patients, faster.”
Catalent will continue to support Juniper’s CRINONE® (progesterone gel) franchise marketed by Merck KGaA outside of the U.S. Juniper’s Intravaginal Ring development pipeline was previously licensed to Daré Bioscience, and Catalent will not be involved in the further development of this program.
The acquisition of Juniper is subject to certain customary closing conditions, including that a majority of Juniper’s shares are tendered into the offer, and is expected to close in the first quarter of Catalent’s 2019 fiscal year, which began on Monday.
Shares in Juniper galloped $2.72, or 31.3%, to $11.42, while those for Catalent dipped 11 cents to $41.71.
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