(Bloomberg) -- 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. Lonza supplies products such as stem cells to biotechnology and pharmaceutical companies.
Catalent gained 5.8 percent to $30.14 at 2:57 p.m. in New York, after earlier touching $32.24. The stock had risen 14 percent to $28.48 this year as of Tuesday’s close.
Thomas Castellano, a spokesman for 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.
(Corrects share history in third paragraph.)
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