Novo Holdings completes $16.5 bln takeover of Catalent

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Novo Holdings completes $16.5 bln takeover of Catalent

deals & business :: 2024-12-18 :: source - reuters

By Reuters

People visit Catalent stand during the Convention on Pharmaceutical Ingredients (CPHI), in Barcelona, Spain, October 24, 2023. REUTERS/Albert Gea/File photo

(Reuters) -Novo Holdings has completed its $16.5 billion acquisition of Catalent(CTLT.N), the contract drug manufacturer said on Wednesday, days after the companies disclosed that all regulatory conditions to close the deal were fulfilled.

Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk (NOVOb.CO), which makes the blockbuster GLP-1 injectable weight-loss drug Wegovy.

Several U.S. consumer groups and two large labor unions had urged the U.S. Federal Trade Commission (FTC) in October to block the deal.

However, the FTC did not challenge the deal and EU antitrust regulators also cleared the transaction earlier this month.

Novo Nordisk will acquire three of Catalent's factories, where injection pens are filled in sterile conditions, in Italy, Belgium and the U.S. following the completion of the deal, the company said.

Novo Holdings agreed to buy Catalent in February to help meet soaring demand for Wegovy, which has led to tight supply of the hugely popular medicine.

(Reporting by Bhanvi Satija and Mariam Sunny in Bengaluru; Editing by Maju Samuel and Sriraj kalluvila)