Thursday, May 9, 2019 Daily Archives

Paragon buy and buildouts tipping Catalent’s business mix in favor of biologics

The addition of Paragon Bioservices places biomanufacturing at around 31% of Catalent’s business mix. The CDMO expects it to be “north of 40%†by 2024 as high demand continues. Catalent reported revenues of $617.5 million (€552 million) for its third quarter FY2019 revenues, a slightly down on the same period last year. Traditionally a small molecule encapsulating contract development and manufacturing organization (CDMO), the firm’s Softgel Technologies segment dropped 6% year-on-year to $214.5 million. However, business was buoyed by its…