Catalent Pharma Solutions Inc. said Thursday it recently signed a "definitive agreement" to sell its drug-packaging plant in Northeast Philadelphia and one in Woodstock, Ill., to an affiliate of Frazier Healthcare, a West Coast venture-capital firm.
Drug companies pay manufacturers like Catalent to produce medicine, among other activities. Catalent did not disclose the sale price and said "the transaction is subject to certain closing conditions and is expected to close in the next few months."
The Blackstone Group paid about $3.3 billion to Cardinal Health for the company in 2007 and renamed it Catalent. The U.S. headquarters is in Somerset, N.J., and the company has operations on five continents.