$CTLT (Catalent, Inc.)

$CTLT {{ '2016-08-29T21:55:51+0000' | timeago}} • Webcast

Morgan Stanley analyst Mark Rosenblum asks where $CTLT expects margins to be going longer term and what kind of expansion will be achieved. $CTLT says that one part of the margin impact was Beinheim and the other piece was the performance of the MRT portfolio, where the company experienced volume declines in some higher margin products.

$CTLT {{ '2017-09-19T12:50:56+0000' | timeago}} • Announcement

$CTLT, a technology company in the consumer goods sector, has signed an agreement to acquire drug manufacturing services provider Cook Pharmica for $950MM in cash. The transaction is expected to close in the fourth quarter of this calendar year. The company intends to finance the acquisition with new unsecured notes and equity.

$CTLT {{ '2017-08-28T20:41:23+0000' | timeago}} • Announcement

$CTLT's revenue from the Clinical Supply Services segment was $99.3MM for 4Q17, an increase of 22% as reported, or an increase of 28% in constant currency. This was due to higher volume related to core storage, distribution, manufacturing, and packaging services, as well as due to increased lower-margin comparator sourcing activities.

$CTLT {{ '2017-08-28T20:40:05+0000' | timeago}} • Announcement

$CTLT's revenue from the Drug Delivery Solutions segment was $270.2MM for 4Q17, an increase of 13% as reported, or 16% in constant currency, over last year. This was primarily driven by favorable end-customer demand for certain higher margin offerings within oral delivery solutions platform and higher volume related to biologics offerings.

$CTLT {{ '2017-08-28T20:38:55+0000' | timeago}} • Announcement

$CTLT's revenue from the Softgel Technologies segment was $257.1MM for 4Q17, an increase of 14% as reported, or 16% in constant currency, compared to last year. The constant-currency growth was due to higher end-market demand for prescription products in Europe, and higher demand for prescription and consumer health products in North America.

$CTLT {{ '2017-08-28T20:36:10+0000' | timeago}} • Announcement

$CTLT expects FY18 revenue of $2.16-2.24Bil, adjusted EBITDA of $477-497MM and adjusted net income of $192-212MM. The company expects self-funded capital expenditures of $145-155MM and fully diluted share count of 127-129MM shares on a weighted-average basis.

$CTLT {{ '2017-08-28T20:33:15+0000' | timeago}} • Announcement

$CTLT reported a rise in 4Q17 earnings driven by double-digit organic revenue growth and segment EBITDA growth on constant currency across all three of its segments. Net income rose to $61.8MM or $0.49 per share from $58.1MM or $0.46 per share last year. Revenue grew 16% to $616.9MM. Adjusted EPS increased to $0.65 from $0.52.

$CTLT {{ '2017-02-16T16:10:34+0000' | timeago}} • Announcement

$CTLT completed the acquisition of Accucaps Industries Ltd., the Canada-based developer and manufacturer of Over-the-Counter (OTC), high-potency and conventional pharmaceutical softgels. Financial details of the transaction have not been disclosed.

$CTLT {{ '2016-12-02T14:29:07+0000' | timeago}} • Announcement

$CTLT's subsidiary Catalent Pharma Solutions priced a private offering of $404.5MM aggregate of 4.75% senior unsecured notes due 2024 at par. The sale of notes is expected to be consummated on Dec. 9, 2016.

$CTLT {{ '2016-11-28T12:46:17+0000' | timeago}} • Announcement

$CTLT announced the acquisition of Accucaps Industries Limited, the Canada-based developer and manufacturer of Over-the-Counter, high potency and conventional pharmaceutical softgels. Transaction details were not disclosed.

$CTLT {{ '2016-11-28T12:42:47+0000' | timeago}} • Announcement

$CTLT announced the acquisition of Accucaps Industries Limited. On completion of the acquisition, Accucaps' over 500 employees, at its two facilities in Windsor and Strathroy, Ontario, will join $CTLT's global network of 11 Softgel Technologies facilities.

$CTLT {{ '2016-09-13T12:49:40+0000' | timeago}} • Announcement

$CTLT intends to pay for this all-cash acquisition through existing cash and borrowings under its existing revolving credit facility. The acquisition will not change the company's FY17 financial guidance.

$CTLT {{ '2016-09-13T12:48:26+0000' | timeago}} • Announcement

$CTLT agreed to acquire Pharmatek Laboratories, Inc. through its subsidiary, Catalent Pharma Solutions, Inc. Financial terms have not been disclosed. The deal is subject to customary closing conditions and is expected to close in the next few weeks.

$CTLT {{ '2016-08-29T22:27:55+0000' | timeago}} • Webcast

Wells Fargo analyst Tim Evans questions on the guidance bridge on the Beinheim facility. $CTLT says that there is less uncertainty as regards customers and products. The company is trying to be responsible with the timing of when production of certain products will resume, how the ramp will be and progression of labor and equipment productivity.

$CTLT {{ '2016-08-29T22:18:48+0000' | timeago}} • Webcast

Jefferies analyst Dave Windley questions about the amounts put in restructuring that actually stayed in the adjusted P&L and an update about margin. $CTLT says that it's approx. $1.5MM, about $1-2MM in target to midpoint. On margin, it's more of the company's desire to put out a responsible set of guidance.

$CTLT {{ '2016-08-29T21:55:51+0000' | timeago}} • Webcast

Morgan Stanley analyst Mark Rosenblum asks where $CTLT expects margins to be going longer term and what kind of expansion will be achieved. $CTLT says that one part of the margin impact was Beinheim and the other piece was the performance of the MRT portfolio, where the company experienced volume declines in some higher margin products.

$CTLT {{ '2016-08-29T21:34:08+0000' | timeago}} • Webcast

During 4Q16, $CTLT's adjusted EBITDA rose 4% to $141.8MM vs. $136.3MM for 4Q15. Excluding the FX translation impact, adjusted EBITDA rose 7% to $145.9MM driven by strong performance across Drug Delivery Solutions and Softgel Technologies segments. As of June 30, 2016, $CTLT's net leverage ratio sequentially improved to 4.3.

$CTLT {{ '2016-08-29T21:18:12+0000' | timeago}} • Webcast

$CTLT said that during 4Q16, it announced the launch of its clinical supply FastChain service. This was introduced for greater speed, flexibility and efficiency in the management and distribution of global clinical supplies for customers and trial participants.

$CTLT {{ '2016-08-29T21:09:57+0000' | timeago}} • Webcast

During 4Q16, $CTLT said that OPKO Health's NDA for RAYALDEE drug was approved by the FDA for the treatment of patients with conditions related to chronic kidney disease. This marks the first FDA approved product using the company's proprietary OptiShell softgel technology, which is a non-gelatin plant-based shell formulation.

$CTLT {{ '2016-08-29T21:04:19+0000' | timeago}} • Webcast

U.S. drug delivery firm $CTLT said that 4Q16 revenue rose 4% as reported and rose 6% in constant currency to $532MM, all of which was organic, with all segments contributing to the growth. For full-year 2016, the company recorded revenue growth of 6% at a constant currency vs. 2015, despite the challenges related to Beinheim facility suspension.

$CTLT {{ '2016-08-29T20:38:03+0000' | timeago}} • Announcement

For FY17, $CTLT expects revenue in the range of $1.920-1.995Bil, adjusted EBITDA to be between $430-455MM and adjusted net Income to be between $165-190MM. These ranges are consistent with the organic, constant currency long-term CAGR growth expectations of 4-6% for revenue and 6-8% for adjusted EBITDA. CapEx is expected to be $125-135MM for FY17.

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