Catalent Rises on Report Lonza Group Offered to Buy It

Updated on

Catalent Inc., a company offering technologies that deliver drugs into targeted cells and tissues, surged after Reuters reported that Lonza Group AG offered to buy it.

No deal has been reached between the companies, and the negotiations may not continue, according to Reuters. Swiss-based Lonza supplies products such as stem cells to biotechnology and pharmaceutical companies.

Catalent gained 4.1 percent to $29.66 at the close in New York, after earlier touching $32.24. The stock has risen 18 percent this year.

Thomas Castellano, a spokesman for Somerset, New Jersey-based Catalent, declined to comment on what he said the company views as merger and acquisition rumors. Catalent had $1.83 billion in sales last year, with almost two-thirds coming from its oral technologies unit.

(A previous version of this story corrected the share history in the third paragraph.)