Juniper Pharma Signs Definitive Agreement to be Acquired by Catalent for $11.50 Per Share in Cash

Juniper Pharmaceuticals announced that it has entered into a definitive agreement with Catalent, Inc. for Catalent to acquire all of the outstanding shares of Juniper at a price of $11.50 per share in cash.

The transaction represents a total equity value of approximately $139.6 million on a fully-diluted basis, and a premium of 59.7% to Juniper’s unaffected share price on January 30, 2018, the last trading day prior to the date on which Juniper announced its intention to explore strategic alternatives.

“This transaction, which has been approved unanimously by the Juniper Board of Directors following the recommendation of a special committee of independent directors, is the culmination of a diligent and extensive process to pursue strategic alternatives in order to maximize shareholder value,” said Alicia Secor, Juniper’s President and CEO. “Catalent’s offer to acquire Juniper recognizes the value of Juniper’s businesses, Juniper Pharma Services and CRINONE.”

“I want to thank both the management team and the special committee of the Board of Directors for conducting a robust process to identify the optimal transaction for Juniper,” said James A. Geraghty, Chairman of the Juniper Board of Directors. “Following their diligent review and recommendation, I am confident that this offer is in the best interest of Juniper’s shareholders.”

“Juniper’s expertise and capabilities in pharmaceutical services will further support Catalent’s strategic goal to be the comprehensive partner of choice for pharmaceutical innovators,” commented Jonathan Arnold, President of Catalent Oral Drug Delivery. “Juniper’s proven scientific expertise in early-phase product development and supply-chain management will help our customers unlock the full potential of their molecules and provide better treatments to patients, faster.”

“We’ve been impressed with the strength of the Company’s management team, depth of scientific experience and demonstrated success in GMP manufacturing and a broad base of enabling technologies. Juniper’s high caliber platform represents a solid addition to our portfolio and we look forward to joining forces,” continued Mr. Arnold.