Patheon, which shifted its headquarters to Research Triangle Park from Toronto in 2008, is acquiring Banner from the Dutch company VION N.V.
Patheon manufactures prescription drugs and provides other services, such as developing the formulation of experimental drugs. Banner has a manufacturing facility in Mexico.
Patheon has 4,700 employees worldwide, including about 70 in RTP. About 600 of Banner's 1,200 employees are based in High Point.
Patheon spokeswoman Jennifer Almond said the company has not made any decision as to whether the deal will result in job cuts.
"As we develop our integration plans over the next weeks and months, we will carefully evaluate what resources we need to run an effective business operation," she said in an email. "It is too early for us to go into further details on what that will look like as we move forward."
On a conference call with analysts, Patheon CEO James Mullen said Banner's business is complementary to Patheon's own contract manufacturing operations.
"With the addition of Banner, we will offer comprehensive coverage to the oral dosage space and we'll have the scale, with expected annual revenues in the excess of $1 billion, to be considered for all procurement or outside-sourcing contracts in that space," Mullen said.
Mullen was brought in as CEO in early 2011 and given a mandate to boost the company's revenue. He was previously CEO of Biogen Idec.
Patheon also raised its revenue forecast Monday. The company now expects revenue to be between $740 million and $745 million for the fiscal year ending Wednesday.