Patheon to buy Banner Pharmacaps for US$255m
Builds scale, expands capacity and broadens footprint in emerging markets
Contract manufacturer Patheon is to buy Banner Pharmacaps, a specialist manufacturer of gelatin-based dosage forms, for US$255m, to expand its oral dosage development and manufacturing services.
Headquartered in High Point, NC, US, Banner is a division of VION NV, a food products company based in The Netherlands.
The firm is the world’s second largest pharmaceutical business in manufacturing softgel formulations for over-the-counter, prescription and nutritional consumer products. It has four manufacturing facilities in the Netherlands, Canada and Mexico.
The deal is subject to regulatory approvals and other customary terms and conditions, and is expected to close by the end of the year.
James Mullen, Patheon’s chief executive officer, said: ‘The acquisition of Banner advances our strategic plan put in place in 2011, fully aligning with Patheon’s intent to be the leader in oral dosage development and manufacturing services. The transaction provides us with a well-balanced portfolio of proprietary products, state-of-the-art facilities with enhanced capabilities, as well as an expanded geographical presence. We believe our visibility within the industry will be further strengthened as we pass the $1bn revenue mark.’
Peter Beckers, chairman of Banner Pharmacaps, and executive board member of VION NV, said: ‘The sale of Banner is a strategic transaction for both organisations. It allows VION to focus on its core business of food and ingredients, while aligning Banner with a global company that is known for its focus on quality and customer service in the pharmaceutical industry.’