The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Catalent said on Monday it would buy privately held gene therapy-focused Paragon Bioservices in an all-cash deal for $1.2 billion, helping the drug developer expand its capabilities to make specialized and costly treatments.
Paragon, backed by private-equity firms Camden Partners and NewSpring Capital, focuses on developing and manufacturing products such as complex biopharmaceuticals for its clients.
Catalent also develops drugs for other companies and does business in Asia, Europe, and North and South America.
The deal follows other multi-billion dollar deals as drug companies have been aggressively moving into the potentially $40 billion addressable market for gene therapy, where treatments for rare, genetic diseases command some of the highest prices.
In Februray, Swiss drugmaker Roche agreed to buy U.S.-based gene therapy specialist Spark Therapeutics for $4.3 billion, while Novartis purchased U.S.-based Avexis for $8.7 billion last year.
Catalent expects the transaction to add to its adjusted earnings in the second full fiscal year after closing.
The company said it will fund the deal with proceeds from a $650 million incremental term loan and issuance of $650 million of a new series of convertible preferred stock.
After the deal closes, Paragon will be led by its Chief Executive Officer Pete Buzy.
The Wall Street Journal reported on Sunday that Catalent had agreed to buy Paragon.