Catalent, a leading global provider of oral, injectable and respiratory delivery technologies to pharmaceutical companies, filed on Friday with the SEC to raise up to $100 million in an initial public offering, although that amount is likely just a placeholder. We estimate the deal could raise upwards of $500 million. The Somerset, NJ-based company, which was founded in 2007 and booked $1.8 billion in sales for the 12 months ended September 30, 2013, plans to list under the symbol CTLT but has yet to announce an exchange. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
