Cook Group announces sale of Cook Pharmica, plans to buy former GE site in Bloomington
BLOOMINGTON, Ind. – Cook Group made a pair of major announcements Tuesday that the company said will expand the life sciences industry in Bloomington.
New Jersey-based Catalent, Inc. reached a deal to acquire Cook Pharmica, the companies revealed. Catalent bills itself as the “leading global provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products.” The acquisition of Cook will allow Catalent to expand its capacity to serve patients worldwide. The company also said it plans to “invest aggressively” in Bloomington.
Catalent will buy Cook Pharmica for $950 million, the companies said. The deal will allow Catalent to add more drug substance and drug product expertise.
“We only consider opportunities like this when it clearly benefits the patients we serve, our employees, the community, and both companies,” said Pete Yonkman, president of Cook Group and Cook Medical.
According to Yonkman, the deal will secure the jobs of the more than 750 Cook Pharmica employees. They’ll remain under the leadership of Cook Pharmica’s president, Tedd Green.
That wasn’t the only announcement from Cook Group on Tuesday. The company has signed an agreement to buy the former GE Appliances site near its headquarters on Bloomington’s west side, allowing Cook to expand its medical device business. The plant closed in August 2016.
Cook Group hopes to add 500 jobs in Bloomington over the next 10 years. The former GE site will give it the flexibility to “address some immediate space needs” and “modernize its manufacturing process,” the company said.
“Both of these decisions will have a positive impact on our employees, our business and also on the local economy and workforce – creating new jobs, expanding the local life sciences industry, and attracting new talent to our region,” Yonkman said. “Today, more than ever, we are committed to Bloomington. It’s our home.”