$1.2B Catalent-Paragon deal latest in race to lock up gene therapy manufacturing

The 6x multiple Catalent is paying for gene therapy manufacturer Paragon Bioservices suggests buyers believe gene therapy companies will remain heavily dependent on outsourcing as new therapies are approved in the next few years.

Catalent Inc. (NASDAQ:CTLT) will pay $1.2 billion to acquire Paragon Bioservices Inc. (Baltimore, Md.), which it expects to deliver $200 million in 2019 revenue. The announcement came just days after Paragon opened a new gene therapy manufacturing facility in Maryland...