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Catalent to buy Paragon Bioservices for $1.2 billion

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Christian Fernsby |
Acquisition   Catalent also develops drugs for other companies

Catalent said it would buy privately held gene therapy-focused Paragon Bioservices in an all-cash deal for $1.2 billion.

Paragon, backed by private-equity firms Camden Partners and NewSpring Capital, focuses on developing and manufacturing products such as complex biopharmaceuticals for its clients.

Catalent also develops drugs for other companies and does business in Asia, Europe, and North and South America.

After the deal closes, Paragon will be led by its Chief Executive Officer Pete Buzy.

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