Blackstone Leads $1.3 Billion Private Funding for Pharma M&A

Blackstone Inc. is leading a $1.3 billion financing backing the merger of pharmaceutical companies Paratek Pharmaceuticals Inc. and Radius Health Inc.

Blackstone Credit & Insurance arranged the deal and was one of the biggest lenders, along with Sixth Street Partners, according to people with knowledge of the transaction. Sixth Street put in more than $400 million, said one of the people, asking not to be identified discussing private information. Oaktree Capital Management and Silver Point Capital also contributed, according to a statement.