Bloomington-based Cook Group Inc. has completed the $950 million sale of its biopharmaceutical subsidiary, Cook Pharmica, to New Jersey-based Catalent Inc. (NYSE: CTLT). Cook Pharmica will now be known as Catalent Bloomington.
The sale was first announced in September, at which time Cook Group President Pete Yonkman said the jobs of Cook Pharmica’s 750 employees were "all secure." Catalent says it plans to "invest aggressively" in the Bloomington site.
"Today is an important one for the employees of Cook Pharmica who are now part of Catalent’s growing biologics business," said Yonkman. "It’s also an important day for Bloomington as we officially welcome a third major life sciences company to the area. We’re excited for Catalent to be part of the growing life sciences hub in Bloomington."
Cook Group says its plans to acquire the former GE refrigeration plant in Bloomington are "progressing as expected." Yonkman says the company is "doubling down in Bloomington" and will use the added space to accommodate growth and create efficiency in its production lines.