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31 Aug 2021

Stocks Rise as Catalent Announces to Buy Bettera for $1 Billion

The Index Today

Catalent, one of the largest pharmaceutical companies in the U.S saw a rise in stocks after announcing its plan to buy Bettera for $1 billion in cash.

Bettera is a renowned manufacturer of nutritional supplements in the market and is backed by Dallas investment firm Highlander Partners. The firm has built a strong market position with its difficult-to-replicate products for nutraceutical purposes.

Catalent’s offer to buy Bettera aims to help accelerate the company’s growth and promote Catalent’s soft-gel and oral dose formulation. The pharmaceutical giant has traded at $133.40 which rose by 12% in the last six months. Bettera can further improve Catalent’s existing consumer network and manufacturing sites across North and South America, Europe, and Japan.

According to market research conducted by Allied, gummy vitamins and nutritional supplements are in high demand. It was estimated last year that gummy sales are expected to increase to $9.3 billion by 2026. Catalent’s new buy-out will improve the company’s position in the consumer health and nutraceutical marketplace.

Catalent is working towards closing the deal before the year-end and will finance the offer with existing credit facilities and cash on hand. The acquisition will greatly depend on market conditions and the availability of debt financing facilities.

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