NEWS
- Pharma & Biotech News #PharmaBuzz
- Weekly News Recap #Phispers
- Recent Product Approvals #GreenLight
- Quality Compliance Alerts #Warning!
- All News #Library
DRUGS & DEVELOPMENTS
MARKET INTEL by PharmaCompass
Create content with us, ask us
By PharmaCompass
2019-04-18
Impressions: 132 Article
The latest drugmaker to pursue a gene therapy company is Catalent Inc. According to a company statement, Catalent has agreed to buy privately held gene-therapy focused Paragon Bioservices Inc for US$ 1.2 billion.
Gene therapies use specially engineered viruses, or viral vectors, to deliver genetic material into defective cells, in hopes of improving or curing an inherited condition. The gene therapy market is expected to witness sustained growth of 25 percent in the medium term and Baltimore, Maryland-based Paragon is expected to outpace this market growth.
“Paragon brings to Catalent a complementary capability that will fundamentally enhance our biologics business and our end-to-end integrated biopharmaceutical solutions for customers,” John Chiminski, Catalent’s CEO said. Backed by private-equity firms Camden Partners and NewSpring Capital, Paragon is expected to record more than US$ 200 million in revenue this year.
Drug companies have been moving aggressively into gene therapy, where treatments for rare, inherited diseases command some of the highest prices in medicine.
Just last month, Thermo Fisher had unveiled a US$ 1.7 billion deal to buy Brammer Bio — a company that does contract viral vector manufacturing for cell and gene therapy developers.
Swiss drugmaker Roche agreed to buy gene therapy specialist Spark Therapeutics Inc for US$ 4.3 billion in February, while Novartis purchased Avexis for US$ 8.7 billion last year.
The PharmaCompass Newsletter – Sign Up, Stay Ahead
Feedback, help us to improve. Click here
Image Credit : #Phisper Infographic by SCORR MARKETING & PharmaCompass is licensed under CC BY 2.0
“ The article is based on the information available in public and which the author believes to be true. The author is not disseminating any information, which the author believes or knows, is confidential or in conflict with the privacy of any person. The views expressed or information supplied through this article is mere opinion and observation of the author. The author does not intend to defame, insult or, cause loss or damage to anyone, in any manner, through this article.”
