Catalent (NYSE:CTLT) has entered into a definitive agreement to purchase a dry-powder inhaler (DPI) capsule manufacturing and packaging facility from Acorda Therapeutics (NSDQ:ACOR).
The acquisition will enable Catalent to establish a center of excellence for spray-dried dispersion for DPI capsule manufacturing. The transaction will also expand Catalent’s existing U.S.-based commercial-scale capabilities in metered-dose inhalers and nasal inhalation technologies.
Under the terms of the deal, Catalent will acquire Acorda Therapeutics’ 90,000-ft2 CGMP facility in Chelsea, Mass., near Boston Logan International Airport. The site houses GEA NIRO PSD-1, PSD-4 and PSD-7 spray-drying units.
The transaction is subject to the customary closing conditions. The companies anticipate that the transaction will be finalized in the first quarter of the year. Once the deal is finalized, Acorda Therapeutics’ workforce at the facility will become Catalent employees.
Catalent has also established a long-term supply agreement with Acorda Therapeutics and will continue to manufacture Acorda’s INBRIJA (levodopa inhalation powder) at the Chelsea facility.
Catalent had strong financial performance in 2020, with growth continuing to the present.
In December, UBS released a briefing note on Catalent, citing strong growth in its biologics segment. The investment bank was especially upbeat about the firm’s acquisition of Paragon gene therapy and its ability to drive organic growth.