Catalent to buy Paragon Bioservices for $1.2 bln

Catalent Inc said April 15 that it agreed to buy Paragon Bioservices Inc for $1.2 billion. The deal calls for Catalent to issue $650 million of convertible preferred stock to Leonard Green & Partners LP. Paragon Bioservices produces biopharmaceuticals and vaccines. Paragon investors include NewSpring Capital and Camden Partners.

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