Merck expands accord with Patheon

Contract drug maker Patheon (TSX:PTI) has signed an expanded contract manufacturing agreement with Merck (NYSE:MRK), making Patheon a “key preferred supplier” to Merck from eight of its global plants. “We have developed a great partnership with Merck and are very pleased that they have chosen to expand it with this contract manufacturing agreement,” CEO Wes [...]

Patheon to offer $280 million of notes in private placement

Patheon (TSX:PTI) is offering privately $280 million of senior secured notes due 2017 and intends to amend its existing $75 million asset-based loan revolver, subject to closing the offering of notes. The company said net proceeds of the private sale will be used to repay all outstanding indebtedness under its existing senior secured term loan [...]

Patheon discussions with Lonza terminated

Lonza Group, a Swiss drugs industry supplier, has withdrawn a $460-million (U.S.) offer to acquire Mississauga-based contract drug manufacturer Patheon (TSX:PTI), citing the opposition of majority shareholder JLL Patheon Holdings, a U.S. private equity company. Earlier this year, Patheon rejected an unsolicited takeover bid from JLL, which holds a 57% stake in Patheon, as being [...]