Patheon

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Patheon
Public Company
Industry Contract pharmaceutical services
Headquarters Durham, North Carolina, United States
Key people
James C. Mullen (CEO); Stuart Grant (CFO and Executive VP)[1]
Revenue $1.7 billion (2015)[2]
Number of employees
8,000[3]
Website www.patheon.com

Patheon Inc. is a pharmaceutical company with its corporate head offices in Durham, North Carolina, that provides contract development and manufacturing services of prescription and over-the-counter pharmaceutical products for approximately 400 pharmaceutical and biotechnology companies.[3]

It was founded in 1974 as Custom Pharmaceuticals Ltd., and changed its name to Patheon in 1993 when it was first publicly traded.[4] The New York private equity firm JLL Partners has owned a controlling stake in Patheon since 2009.[5] In 2014, Patheon merged with the drug manufacturing business of Royal DSM NV, becoming a joint-venture between JLL Partners and DSM.[6] As of 2016, Patheon owns manufacturing sites in North America, Europe, Japan, and Australia.[7]

History[edit]

Patheon was founded in Canada in 1974 as Custom Pharmaceuticals Ltd. In 1990, it began to expand to US markets. Custom Pharmaceuticals changed its name to Patheon in 1993 and was first publicly traded that year on the Toronto Stock Exchange.[4]

In 2004, Patheon acquired MOVA, a drug manufacturer based in Puerto Rico, US. The deal proved unprofitable, and in 2007, the New York equity firm JLL Partners provided Patheon $150 million to restructure. Two years later, after a failed takeover bid by Lonza Group, JLL Partners bought a controlling interest in the company.[5][8]

In 2013, Patheon acquired Banner Pharmacaps, a drug manufacturer specializing in softgels, for $255 million. (Patheon changed the company's name the following year to "Banner Life Sciences".)[9] In a $2.6 billion deal, Patheon merged with the pharmaceutical division of Royal DSM NV in 2014 after JLL Partners bought a controlling stake in the latter as well, adding significantly to Patheon's European production capacity.[6] Later that year, Patheon bought Gallus Pharmaceuticals, acquiring mammalian cell culture lab sites in New Jersey, US and Missouri, US.[10]

In 2015, Patheon acquired Agere Pharmaceuticals, an Oregon, US company specializing in drug solubility, and IRIX, a maker of specialist Active Pharmaceutical Ingredients in South Carolina, US, the latter for $162.78 million.[11][12]

Patheon won Contract Manufacturing Organization Leadership Awards from Life Science Leader in 2012, 2013, 2015, and 2016.[13]

Dosage Forms, Products[edit]

Patheon does not own any of the licences of the products it manufactures and is often listed as the manufacturer on packaging, with the product licence holder's brand name, product name and corporate identity being used. Patheon's clients include such pharmaceutical brands as Merck & Co, Novartis and Sanofi Aventis, with biotechnology customers including Amgen and Avanir Pharmaceuticals. Patheon has manufactured or developed more than 800 products.[14]

Development activities are undertaken by Patheon Pharmaceutical Development Services (known as PDS), a division of Patheon Inc. operating in Europe, Canada and the United States. As of 2016, Patheon owns manufacturing sites in Canada, the continental US, Puerto Rico, France, the United Kingdom, Italy, Austria, Germany, the Netherlands, Japan, and Australia.[7]

Patheon manufactures products in various dosage forms: oral (tablets, capsules), injectable sterile products (vials, ampoules, pre-filled syringes containing liquids, powders and lyophilisates) and topicals (creams, ointments, drops, nasal sprays, medicated and non-medicated gauze).

References[edit]

  1. ^ "Leadership". patheon.com. Patheon. Retrieved May 18, 2016. 
  2. ^ Palmer, Eric (June 9, 2015). "UPDATED: Patheon revenues hit $1.7B in first year as part of DPx". fiercepharma.com. Fierce Pharma. Retrieved May 18, 2016. 
  3. ^ a b "Company Profile". patheon.com. Patheon. Retrieved May 18, 2016. 
  4. ^ a b "History and Milestones". patheon.com. Patheon. Retrieved May 18, 2016. 
  5. ^ a b Erman, Boyd (July 29, 2009). "Long takeover battle a bitter pill for Patheon". theglobeandmail.com. The Globe and Mail. Retrieved May 18, 2016. 
  6. ^ a b Xu, Jodi (November 19, 2013). "JLL Forms New Pharma Firm With DSM in $2.6 Billion Deal". bloomberg.com. Bloomberg. Retrieved May 18, 2016. 
  7. ^ a b "Sites". patheon.com. Patheon. Retrieved May 18, 2016. 
  8. ^ Hodson, Peter (December 13, 2013). "5 takeover failures revisited". financialpost.com. Financial Post. Retrieved May 18, 2016. 
  9. ^ Evans, Matt (July 1, 2013). "Patheon changing Banner Pharmacaps' name". bizjournals.com. Triad Business Journal. Retrieved May 18, 2016. 
  10. ^ Stanton, Dan (August 27, 2014). "Patheon propels itself into US biologics market in Gallus acquisition". biopharma-reporter.com. biopharma-reporter.com. Retrieved May 18, 2016. 
  11. ^ Ruckin, Claire (March 9, 2015). "TRLPC-Patheon to raise 150 mln euro loan for IRIX acquisition". reuters.com. Reuters. Retrieved May 18, 2016. 
  12. ^ deBruyn, Jason (March 11, 2015). "Oregon pharma company sold to North Carolina manufacturer". bizjournals.com. Portland Business Journal. Retrieved May 18, 2016. 
  13. ^ "CMO Leadership Awards". cmoleadershipawards.com. Life Science Leader. 2016. Retrieved May 20, 2016. 
  14. ^ "Patheon by the Numbers" (PDF). patheon.com. Patheon. Retrieved May 18, 2016. 

External links[edit]