Patheon, a provider of contract development and manufacturing services to the pharmaceutical industry, has entered into a definitive agreement with Vion, a global manufacturer of foodstuffs and ingredients based in the Netherlands, to acquire Banner Pharmacaps, a specialty pharmaceutical business focused on the research, development and manufacturing of gelatine-based dosage forms.
Banner is the world's second largest pharmaceutical business focused on delivering proprietary softgel formulations for OTC, prescription and nutritional consumer products, with four manufacturing facilities, significant proprietary technologies and products, and leading positions in some of the industry's fastest-growing product categories. Banner is headquartered in High Point, NC, with additional research laboratories and manufacturing facilities in the Netherlands, Canada and Mexico.
The acquisition will be structured as a purchase of all of the shares of the entities through which Banner conducts its operations, for a purchase price of US$255 million, subject to working capital and other adjustments. The acquisition is expected to close by the end of 2012.