Catalent : Amendment to a previously filed 8-K

Exhibit 99.3

UNAUDITED PRO FORMA FINANCIAL STATEMENTS

On May 17, 2019, Catalent, Inc. ('Catalent' and, together with its subsidiaries, the 'Company'), through its wholly owned subsidiary Catalent Holdco I Inc. ('Merger Sub'), a wholly owned subsidiary of Catalent Pharma Solutions, Inc. (in such capacity, 'Buyer'), completed its previously announced acquisition of Paragon Bioservices, Inc. ('Paragon'), pursuant to the merger of Merger Sub with and into Paragon (the 'Merger'), with Paragon continuing as the surviving company in the Merger and as an indirect, wholly owned subsidiary of Buyer.

The acquisition was completed in accordance with the Agreement and Plan of Merger, dated as of April 14, 2019 (as amended, the 'Merger Agreement'), by and among Buyer, Merger Sub, Paragon, Pearl Shareholder Representative, LLC, as representative of the Company Securityholders (as defined in the Merger Agreement), and, solely with respect to Sections 4.12 (solely with respect to the Equity Financing (as defined in the Merger Agreement)) and 8.19 of the Merger Agreement, Catalent.

The purchase price was $1.2 billion in cash, subject to customary escrow arrangements and a purchase price adjustment related to, among other things, the amount of Paragon's working capital (as adjusted, the 'Closing Payment'). The Company financed the portion of the Closing Payment due at the closing of the Merger and related fees and expenses with the net proceeds of the Preferred Stock Issuance and the Incremental Dollar Term Loans (each as defined below).

As previously disclosed, Catalent entered into an equity commitment and investment agreement, dated as of April 14, 2019 (the 'Investment Agreement'), with Green Equity Investors VII, L.P. and Green Equity Investors Side VII, L.P. (together, the 'Funds'), both affiliates of Leonard Green & Partners, L.P., with respect to the issuance and sale of 650,000 shares of Catalent's Series A preferred stock, par value $0.01 per share (the 'Series A Preferred Stock'), for an aggregate purchase price of $650 million, or $1,000 per share (such issuance and sale, the 'Preferred Stock Issuance'). The Series A Preferred Stock ranks senior to Catalent's shares of common stock, par value $0.01 per share (the 'Common Stock'), with respect to dividend rights and rights upon the voluntary or involuntary liquidation, dissolution, or winding up of the affairs of Catalent. The Series A Preferred Stock initially has a stated value of $1,000 per share (as such value may be adjusted in accordance with the terms of the certificate of designation filed with the Delaware Secretary of State with respect to the Series A Preferred Stock, the 'Stated Value'). Holders of shares of the Series A Preferred Stock are entitled to receive cumulative dividends payable quarterly against the Stated Value at a rate of 5.00% per annum (the 'Series A Preferred Stock Dividend'), subject to adjustment based on the relative and absolute price performance of the Common Stock (the 'Dividend Adjustment') as set forth in the certificate of designation.

Also on the closing date of the Merger, Catalent Pharma Solutions, Inc., as borrower (in such capacity, the 'Borrower'), entered into Amendment No. 4 to the Amended and Restated Credit Agreement (the 'Credit Agreement Amendment') by and among the Borrower, PTS Intermediate Holdings LLC ('Holdings'), the subsidiaries of Holdings party thereto (together with Holdings, the 'Guarantors'), JP Morgan Chase Bank, N.A., as the administrative agent, collateral agent, swing line lender, and letter of credit issuer, and the lenders and other parties thereto, which Credit Agreement Amendment amends that certain Amended and Restated Credit Agreement, dated as of May 20, 2014, by and among the Borrower, Holdings, the guarantors party thereto, JP Morgan Chase Bank, N.A., as the administrative agent, collateral agent, swing line lender and successor to the former agent specified therein, and the lenders and other parties thereto (as amended by Amendment No. 1 dated as of December 1, 2014, Amendment No. 2 dated as of December 9, 2016, Amendment No. 3 dated as of October 18, 2017, and the Credit Agreement Amendment, the 'Credit Agreement'). Pursuant to the Credit Agreement Amendment: (i) the Borrower borrowed $950 million aggregate principal amount through incremental U.S. dollar-denominated term loans (the 'Incremental Dollar Term Loans') and (ii) the existing revolving credit commitments of $200 million were replaced by new revolving credit commitments of $550 million (the 'Incremental Revolving Credit Commitments'). The Incremental Dollar Term Loans constitute a new class of dollar term loans under the Credit Agreement with the same principal terms as the existing U.S. dollar-denominated term loans under the Credit Agreement (including: (A) an interest rate margin for eurodollar rate loans of 2.25% per annum (with a eurodollar rate floor of 1.00%) and 1.25% per annum for base rate loans and (B) quarterly 0.25% amortization), except the maturity date for the Incremental Dollar Term Loans is the earlier of (1) May 17, 2026 and (2) the 91st day prior to the maturity of the Borrower's 4.75% senior unsecured notes due 2024 (the '2024 Senior Notes') or a permitted refinancing thereof, if on such 91st day any of the 2024 Senior Notes remain outstanding. The Incremental Revolving Credit Commitments constitute revolving credit commitments under the Credit Agreement with the same principal terms as the previously existing revolving credit commitments under the Credit Agreement, except the maturity date for all revolving loans is now the earlier of (1) May 17, 2024 and (2) the 91st day prior to the maturity of any dollar term loans or euro term loans under the Credit Agreement, or any permitted refinancing thereof, if on such 91st day any of such dollar term loans or euro term loans remain outstanding. The proceeds of the Incremental

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