Catalent To Acquire Metrics Contract Services for $475 M
Catalent has agreed to acquire Metrics Contract Services, a Greenville, North Carolina-based CDMO of oral solid dosage products, including high-potency products, for $475 million.
Metrics, part of Mayne Pharma, an Adelaide, Australia-based bio/pharmaceutical company, has a 333,000-square-foot facility in Greenville, North Carolina. The facility includes 16 manufacturing suites, with 11 designed to handle highly potent compounds, and two packaging lines. The facility’s estimated annual production capacity exceeds one billion oral solid dose units. With the acquisition, Metrics’ entire team of over 400 employees will join Catalent.
Mayne Pharma and Catalent also agreed on the terms of a five-year supply agreement, whereby the Greenville facility will continue to manufacture multiple Mayne Pharma products.
The transaction is expected to close by the end of calendar year 2022, subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Act. Mayne Pharma will receive approximately $445 million in net proceeds after transaction costs, restructuring costs, and customary closing adjustments.