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Drug maker with St. Pete plant makes a $1B buy

Catalent Inc. agreed to buy Paragon Bioservices for $1.2 billion. Catalent (NYSE: CTLT) is a contract drug manufacturer; its St. Petersburg plant is its primary softgel development and manufacturing facility in North America. Paragon Bioservices is a biotech company that manufactures gene therapies for clinical and commercial use.

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