PCI, a contract pharma packaging company, has snapped up clinical trial supply operation Biotec, expanding its footprint across all phases of drug development.
Under the deal, the Philadelphia-headquartered PCI gets all of Biotec's temperature-controlled supply outposts across Europe, allowing it to store gene therapies, cellular treatments and tissue-engineered products, the company said. Adding Biotec's capabilities effectively quadruples PCI's existing capacity, the company said, complementing its recent addition of a 93,000-square-foot clinical storage shop in North America.
The deal follows PCI's July acquisition of Penn Pharma, a U.K. development and manufacturing outfit, for about $215 million. PCI now has 16 facilities in North America and Europe, employing more 2,900 people, the company said.
And, integrating Biotec, PCI can further extend its service offering to cover more and more of the drug development process, CEO Bill Mitchell said.
"Clients are looking for solution providers that can help them navigate the development process and enable speed-to-market," Mitchell said in a statement. "Adding Biotec, as well as the drug development and manufacturing expertise of Penn Pharma, truly positions PCI to provide that substantial added value to our clients."
Founded and majority owned by Frazier Healthcare, the company is a conglomerate of the former Catalent ($CTLT) packaging unit and AndersonBrecon, acquired from AmerisourceBergen ($ABC) for $308 million last year.
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