Catalent Acquires Micron Technologies

Catalent, Inc. (NYSE:CTLT), the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, today announced that it has acquired Micron Technologies, a leading global provider of particle size engineering technologies.

In an important advance in executing its strategy to provide the best drug delivery technologies and the broadest drug development expertise, Catalent will add Micron Technologies’ superior particle size engineering capabilities to its industry leading suite of drug delivery and development solutions. Catalent can now partner with more pharmaceutical innovators at the earliest stages of the drug development process with an unrivaled set of options and expertise. These range from OptiForm^® API optimization and Micron Technologies particle size optimization, to expert formulation and final dose form design services, through to leading bioavailability solutions such as RP Scherer Softgel lipid systems and OptiMelt™ hot melt extrusion technologies. Catalent can support its customers all the way through scale up, clinical and commercial manufacturing of finished oral and inhaled dose forms around the world, including for highly potent compounds.

“This strategic acquisition allows Catalent to provide an unprecedented set of integrated development solutions and superior drug delivery technologies to the industry, partnering with our customers’ R&D teams earlier in the development cycle and helping them deliver better treatments to clinic and to market faster and more efficiently,” said John Chiminski, Catalent, Inc. President and CEO. “We are pleased to add Micron Technologies’ leading technologies and manufacturing expertise and welcome their highly talented management, scientific and operations teams to Catalent.”

Micron Technologies adds to Catalent’s long history of innovation and leadership in the pharmaceutical industry, with its proven and versatile portfolio of particle size reduction, micronization and milling technologies used to overcome bioavailability, stability and manufacturability challenges.

The acquisition is Catalent’s second since its IPO in July, and follows the acquisition of Redwood Bioscience, with its SMARTag™ Antibody-Drug Conjugate (ADC) technology platform, in October 2014.

Micron Technologies currently operates two state-of-the-art facilities, with excellent quality and regulatory compliance records, in Malvern, PA, and in Dartford, U.K., and employs approximately 100 people across both sites. Micron Technologies has over 25 years of experience in air jet milling micronization and is capable of processing R&D and commercial volumes at both of its sites. Micron Technologies currently supports active programs involving over 300 customers from around the world. Both facilities are equipped with advanced systems to ensure the quality, safety and total containment of highly potent and cytotoxic compounds, and provide integrated analytical services capabilities from early stage development to commercialization.

Joseph Drost, CEO of Micron Technologies, who will continue to lead this business, remarked, “We are excited to become part of Catalent, as there is a natural synergy between our organizations, with the global leader in advanced delivery technologies and development solutions now joining forces with a leading provider of particle size engineering technologies and integrated analytical services. Through access to Catalent’s global network, development expertise and innovative technologies, we can jointly provide end-to-end solutions to accelerate drug development programs and bring better treatments to patients worldwide.”

About Catalent, Inc.

Catalent, Inc. is the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. With over 80 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable clinical and commercial product supply. Catalent employs approximately 8,000 people, including over 1,000 scientists, at nearly 30 facilities across 5 continents, and in fiscal 2014 generated more than $1.8 billion in annual revenue. Catalent is headquartered in Somerset, N.J.

For more information, visit www.catalent.com

More products. Better treatments. Reliably supplied.™

About Micron Technologies

Micron Technologies, a portfolio company of Arlington Capital Partners, is a leading global provider of particle size engineering technologies for the pharmaceutical industry. Micron Technologies has helped overcome bioavailability, stability and manufacturability challenges across hundreds of oral and inhaled drugs for over 25 years through its leading, proven and versatile portfolio of particle size reduction, micronization and milling technologies. Micron Technologies employs approximately 100 people across 2 facilities in the U.S. and the U.K. Micron Technologies is headquartered in Malvern, PA.

For more information, visit www.microntech.com

Forward-Looking Statements

This press release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate”, “intend”, “estimate”, “plan”, “project”, “foresee”, “likely”, “may”, “will”, “would” or other words or phrases with similar meanings. Similarly, statements that describe our Catalent’s objectives, plans or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent, Inc.’s expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: general industry conditions and competition; product or other liability risk inherent in the design, development, manufacture and marketing of our offerings; inability to enhance our existing or introduce new technology or services in a timely manner; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; and our substantial debt and debt service requirements that restrict our operating and financial flexibility and impose significant interest and financial costs; or difficulty in integrating Micron Technologies into Catalent’s existing business, thereby reducing or eliminating the anticipated benefits of the transaction. For a more detailed discussion of these and other factors, see the information under the caption “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended June 30, 2014 filed with the Securities and Exchange Commission. All forward-looking statements in this release speak only as of the date of this release or as of the date they are made, and Catalent, Inc. does not undertake to update any forward-looking statements as a result of new information or future events or developments unless except to the extent required by law.

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Contact information

Media:
Chris Halling, +44 (0)7580 041073
chris.halling@catalent.com
or
Richard Kerns, +44 (0)161 728 5880
richard@nepr.eu
or
Investor Relations:
Bertner Advisors, LLC
Monique Kosse, +1 860 940 0352
Monique.Kosse@BertnerAdvisors.com