Patheon sells clinical packaging biz to Bellwyck

Canadian-contract manufacturer Patheon ($PTI), which has been taking steps to cut costs and reposition itself, is selling its secondary clinical packaging and clinical distribution services business to another Canadian company, Bellwyck Packaging Solutions. Terms of the deal were not disclosed. "While we don't expect the terms of the transaction to have a material impact on our ongoing results, this transaction is part of our continued focus on our core competencies of solid-dose and parenteral development and manufacturing," Patheon CEO James C. Mullen said in a release. About 20 employees will move with the business.  To boost its bottom line, Patheon last year said it would get out of semi-solids and clinical packaging and start closing facilities and consolidating operations. It put a plant in Swindon, U.K., up for sale. In May, unable to sell the plant, Patheon said it would consolidate some operations there and over two or three years stop taking on new non-cephalosporin commercial production there, finish up as much as it can and transfer the rest to other facilities. Release | More


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