Toronto-based Bellwyck Packaging Solutions has entered into an agreement to buy Patheon's global secondary clinical packaging and clinical distribution services business for an undisclosed sum.
Patheon chief executive officer James Mullen said that Patheon is happy to have reached an agreement with Bellwyck for the business.
"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," Mullen added.
"One of Bellwyck's core competencies is clinical packaging. We are confident that both the customers and our employees, about 20 of whom have joined Bellwyck, are in good hands."
Bellwyck CEO Jeff Sziklai said Bellwyck looks forward to an ongoing partnership with Patheon and a seamless transition for customers and employees.
Parenteral refers to medicines that bypass the digestive tract, often administered either through intravenous or intramuscular injection.
Patheon operates manufacturing plants, nine development centres and one clinical trial packaging operation in Canada, US and Europe.
