Market Overview

Catalent Completes Tender Offer for All Outstanding Shares of Juniper Pharmaceuticals, Inc.

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Catalent, Inc. (NYSE:CTLT) ("Catalent"), the leading global provider of
advanced delivery technologies and development solutions for drugs,
biologics and consumer health products, today announced the successful
completion of the previously announced tender offer by Catalent Boston,
Inc. ("Merger Sub"), a subsidiary of Catalent Pharma Solutions, Inc.
("Parent"), Catalent's operating subsidiary, for all of the outstanding
shares of common stock of Juniper Pharmaceuticals, Inc. (NASDAQ:JNP)
("Juniper") at a price of $11.50 per share, net to the seller in cash,
without any interest, but subject to and reduced by any required
withholding of taxes. The acquisition of Juniper expands and strengthens
Catalent's offerings in formulation development, bioavailability
solutions and clinical-scale oral dose manufacturing, and complements
its integrated global clinical and commercial supply network.

American Stock Transfer & Trust Co., LLC, the depositary for the tender
offer, has advised Catalent that, as of 12:00 midnight, New York City
time, at the end of August 13, 2018, the expiration of the tender offer,
a total of 9,285,239 shares of common stock of Juniper, representing
approximately 82% of Juniper's currently outstanding shares of common
stock, were validly tendered and not withdrawn in the tender offer
(including shares tendered pursuant to guaranteed delivery procedures).
As a result, the minimum condition of the tender offer, generally that a
majority of the shares of Juniper common stock outstanding at the
expiration of the tender offer be validly tendered and not withdrawn,
has been satisfied, and Purchaser will promptly pay for all such
tendered shares in accordance with the terms of the tender offer.

Catalent expects to complete the merger of Merger Sub into Juniper under
Section 251(h) of the Delaware General Corporation Law today. As a
result of the merger, all remaining shares of common stock of Juniper
issued and outstanding immediately prior to the effective time of the
merger (other than any (i) shares held in the treasury of Juniper, (ii)
shares owned by Parent or Merger Sub or their subsidiaries, (iii) shares
irrevocably accepted for purchase in the tender offer, and (iv) shares
held by Juniper stockholders who properly demanded and perfected
appraisal rights under Delaware law) will be converted into the right to
receive an amount in cash equal to $11.50 per share, net to the seller
in cash, without any interest, but subject to and reduced by any
required withholding of taxes (i.e., the same price per share
that was paid in the tender offer). In addition, as a result of the
merger, Juniper will become a wholly owned subsidiary of Parent and the
shares of common stock of Juniper will cease to be traded on the NASDAQ
Global Select Market.

About Juniper Pharmaceuticals

Juniper Pharmaceuticals, Inc.'s core businesses include Juniper Pharma
Services, which provides high-end fee-for-service pharmaceutical
development and clinical trials manufacturing to clients, and its
contract with Merck KGaA to supply CRINONE® (progesterone
gel) outside of the United States. Please visit www.juniperpharma.com
for more information.

Juniper Pharmaceuticals™ is a trademark of Juniper Pharmaceuticals,
Inc., in the U.S. and the E.U. CRINONE® is a registered
trademark of Merck KGaA, Darmstadt, Germany, outside the U.S. and of
Allergan plc in the U.S.

About Catalent

Catalent is the leading global provider of advanced delivery
technologies and development solutions for drugs, biologics and consumer
health products. With over 80 years serving the industry, Catalent has
proven expertise in bringing more customer products to market faster,
enhancing product performance and ensuring reliable clinical and
commercial product supply. Catalent employs approximately 11,000 people,
including over 1,400 scientists, at more than 30 facilities across five
continents, and in fiscal 2017 generated over $2 billion in annual
revenue. Catalent is headquartered in Somerset, New Jersey. For more
information, visit www.catalent.com

More products. Better treatments. Reliably supplied.™

Cautionary Note Concerning Forward-Looking Statements

This release contains both historical and forward-looking statements,
including concerning the tender offer for and merger with Juniper. These
forward-looking statements generally can be identified because they
relate to the topics set forth above or by the use of statements that
include phrases such as "believe," "expect," "anticipate," "intend,"
"estimate," "plan," "project," "foresee," "likely," "may," "will,"
"would" or other words or phrases with similar meanings. Similarly,
statements that describe Catalent's objectives, plans or goals are, or
may be, forward-looking statements. These statements are based on
current expectations of future events. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results
could vary materially from Catalent's expectations and projections. Some
of the factors that could cause actual results to differ include, but
are not limited to, the following: litigation relating to the
transaction; other unanticipated events may make it more difficult to
realize the anticipated benefits of the transaction; participation in a
highly competitive market and increased competition may adversely affect
the business of Catalent or of Juniper; demand for Catalent's or
Juniper's offerings which depends in part on their customers' research
and development and the clinical success of their products; failure to
comply with existing and future regulatory requirements; failure to
provide quality offerings to customers could have an adverse effect on
the business and subject it to regulatory actions and costly litigation;
problems providing the highly exacting and complex services or support
required; global economic, political and regulatory risks to the
operations of Catalent and Juniper; inability to enhance existing or
introduce new technology or service offerings in a timely manner;
inadequate patents, copyrights, trademarks and other forms of
intellectual property protections; changes in market access or
healthcare reimbursement in the United States or internationally;
fluctuations in the exchange rate of the U.S. dollar and other foreign
currencies including as a result of the recent U.K. referendum to exit
from the European Union; adverse tax legislation initiatives or
challenges to Catalent's tax positions; loss of key personnel; risks
generally associated with information systems; inability to complete any
future acquisition or other transactions that may complement or expand
the business of Catalent or divest of non-strategic businesses or assets
and Catalent's ability to successfully integrate acquired business,
including Juniper, and realize anticipated benefits of such
acquisitions; offerings and customers' products that may infringe on the
intellectual property rights of third parties; environmental, health and
safety laws and regulations, which could increase costs and restrict
operations; labor and employment laws and regulations; additional cash
contributions required to fund Catalent's existing pension plans;
substantial leverage resulting in the limited ability of Catalent to
raise additional capital to fund operations and react to changes in the
economy or in the industry, exposure to interest rate risk to the extent
of Catalent's variable rate debt and preventing Catalent from meeting
its obligations under its indebtedness. For a more detailed discussion
of these and other factors, see the information under the caption "Risk
Factors" in Catalent's Annual Report on Form 10-K for the fiscal year
ended June 30, 2017, filed August 28, 2017 with the SEC. All
forward-looking statements speak only as of the date of this release or
as of the date they are made, and Catalent does not undertake to update
any forward-looking statement as a result of new information or future
events or developments except to the extent required by law.

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