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Blackstone Group-owned CDMO nets over $800 million
Catalent Inc. (Somerset, NJ), spun out of Cardinal Health back in 2007, has now taken the “next step in our growth journey” by going public, at CTLT on the New York Stock Exchange. Blackstone Group, the private investment firm which acquired most of the business, will retain majority ownership. The money raised will be used primarily to retire debt the company has undertaken in the past few years.
Catalent’s financial filings indicate the company grossed about $1.8 billion in 2013, in three business segments: Oral Technologies (about 66% of revenue). Medication Delivery Solutions (about 12%) and Development and Clinical Services (about 22%). That makes it a leader in clinical development and manufacturing organizations (CDMOs) globally. The oral technologies group has 14 manufacturing and development plants, located globally. Recent investments include expansions in its Softgel and clinical supply business in China and Brazil, a new Biologics Center of Excellence in Madison, WI and an expansion of its oral technologies manufacturing site in Winchester, KY.