Patheon rebrands with a $100M IPO in the works

Contract drug developer Patheon is revamping its brand identity on the way to Wall Street, tinkering with its image ahead of a planned $100 million IPO.

The Dutch company, moving forward after years of mergers and acquisitions, is uniting its disparate units under a sole banner. In practice, that means a new website, logo and marketing identity, one that "promotes our leadership position, the work our employees perform around the world and the fact that we are uniquely positioned to provide end-to-end pharmaceutical development and manufacturing services under a single, master brand," Patheon Senior Vice President Chris Tama said in a statement.

Meanwhile, Patheon's ownership group is preparing to take the company public and sell off some of its stake. In a June filing with the SEC, the company lined up to make its way to the New York Stock Exchange in a $100 million IPO, planning to trade under the symbol "PTHN." The sale of shares would benefit only JLL Partners and Royal DSM, Patheon's owners, and not the company itself.

Patheon became part of the conglomerate DPx when JLL struck a deal with DSM to combine it with the latter's eponymous pharma service provider in a $2.6 billion deal.

The company has grown rapidly since 2011, when former Biogen ($BIIB) CEO James Mullen took the helm, striking a string of acquisitions headlined by its $255 million deal for softgel specialist Banner Pharmacaps in 2012. From fiscal 2011 to fiscal 2014, Patheon's revenue jumped by nearly 250%, the company said, and the contractor now employs more than 8,700 people in 11 countries.

- read the statement

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