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WSJ : Catalent To Buy Paragon Bioservices In $1.2 Bln Deal

Contract drug manufacturer Catalent Inc. (CTLT) agreed to buy closely held Paragon Bioservices Inc. for $1.2 billion, the Wall Street Journal reported citing people familiar with the matter.

The all-cash deal, which is expected to be announced Monday morning, would help Catalent expand its gene-therapy manufacturing capabilities, the report said. The transaction is expected to close in the second quarter.

Paragon provides similar supplies for gene-therapy drugmakers, manufacturing the so-called viral vectors that are used to deliver the gene replacements to their targets. Last week the Baltimore-based company unveiled a 200,000-square-foot manufacturing facility in suburban Maryland.

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