Contract drug manufacturer Catalent Inc on Friday warned that its fiscal fourth-quarter results would be hit by lower productivity and higher costs at three of its manufacturing facilities.
The company also said its Chief Financial Officer Thomas Castellano had left Catalent and named company insider Ricky Hopson as his replacement.
Catalent's shares were down 15% at $53.80 in premarket trading.
The company said it experienced "productivity issues" at its gene therapy manufacturing site in Harmans, Maryland, and faced similar issues at its drug product and drug substance manufacturing facilities in Bloomington, Indiana and Brussels, Belgium.
Catalent said it had taken a number of measures at the facilities, including management and operational changes, to address the issues.
https://uk.sports.yahoo.com/news/contract-drug-manufacturer-catalent-warns-114304151.html
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