Avantor® and Catalent Enter into Multi-Year Supply and Services Agreement

Rhea-AI Summary

Avantor has entered into a multi-year supply and services agreement with Catalent to provide a wide range of laboratory supplies, clinical materials, and services. This partnership aims to enhance both companies' capabilities in delivering better treatments to patients and reflects their commitment to meeting global health needs. The collaboration builds on an existing relationship, showcasing Avantor's strengths in reliability and innovation.

Positive

• Avantor is now the primary supplier for Catalent, indicating strong business growth potential.
• The partnership enhances Catalent's capabilities in product development and supply lifecycle for the pharmaceutical industry.

Negative

• None.

RADNOR, Pa. and SOMERSET, N.J., Jan. 9, 2023 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, today announced that it has entered into a multi-year supply and services agreement with Catalent, Inc. (NYSE: CTLT), the leader in enabling the development and supply of better treatments for patients worldwide. Under the terms of the agreement, Avantor will be the primary supplier of a broad range of laboratory supplies, clinical and production materials, and services to Catalent, expanding the companies' existing relationship.

"We have seen firsthand that Avantor is a terrific partner that brings diverse capabilities and expertise across modalities and geographies, which is essential to meeting global health needs," said Alessandro Maselli, President and Chief Executive Officer, Catalent. "We look forward to deepening our work with the Avantor team to bring current and novel treatments to patients around the world." 

"Catalent has built tremendous global capabilities and a reputation as a trusted collaborator to pharma, biotech and consumer health partners throughout the development and production lifecycle," said Michael Stubblefield, President and CEO of Avantor. "We are pleased to expand our support for Catalent and enable efficiencies to accelerate science for their customers around the globe."

This expanded relationship reflects Avantor's long history of providing customers with choice, reliability and innovative solutions. For more information, visit avantorsciences.com.

About Avantor 

Avantor^®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. Our global footprint enables us to serve more than 300,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, visit avantorsciences.com and find us on LinkedIn, Twitter and Facebook.  

About Catalent

Catalent is the global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs.

Catalent helps accelerate over 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply around 80 billion doses of nearly 8,000 products annually. Catalent's expert workforce of approximately 18,000 includes more than 3,000 scientists and technicians.

Headquartered in Somerset, New Jersey, the company generated nearly $5 billion in revenue in its 2022 fiscal year. For more information, www.catalent.com.

Avantor Investor Relations Contact
Christina Jones
Vice President, Investor Relations
805-617-5297
Christina.Jones@avantorsciences.com

Avantor Media Contact
Emily Collins
Vice President, External Communications
332-239-3910      
Emily.Collins@avantorsciences.com 

Catalent Contact
Chris Halling
Senior Director, Media Relations
+44 (0)7580 041073
media@catalent.com

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SOURCE Avantor and Financial News

FAQ

What is the new agreement between Avantor and Catalent about?

Avantor has signed a multi-year supply and services agreement with Catalent to provide laboratory supplies and clinical materials.

When was the partnership agreement between Avantor and Catalent announced?

The partnership agreement was announced on January 9, 2023.

How does the agreement impact Avantor's business?

The agreement positions Avantor as the primary supplier for Catalent, potentially boosting its revenue and market presence.

What are the key benefits of the Avantor and Catalent partnership?

The partnership is expected to enhance both companies' capabilities in delivering better treatments and improve efficiencies in the life sciences sector.

What are the stock symbols for Avantor and Catalent?

Avantor is listed under the stock symbol AVTR, and Catalent is listed under CTLT.