Novo Nordisk’s controlling shareholder to buy Catalent for $16.5 billion



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The controlling shareholder of weight-loss drug maker Novo Nordisk on Monday said it’s buying a provider of drug manufacturing for $16.5 billion.

Novo Holdings, the controlling shareholder of Novo Nordisk
NVO,
-1.80%,
said it’s buying Catalent
CTLT,
+2.67%
for $16.5 billion in cash, or $63.50 per Catalent share, a 16.5% premium to Friday’s close.

Catalent stock rose 13% in premarket trade to $61.48.

The deal is a 39% premium to Catalent’s close before it announced a strategic review.

The deal will see Novo sell three fill-finish sites to Novo Nordisk shortly after the deal closes. Novo Nordisk has been struggling to meet demand for its popular injectable weight-loss drugs.

Catalent has more than 50 sites globally.

Catalent investor Elliott Investment Management said it supports the deal.

Novo Holdings had assets of €108 billion at the end of 2022.



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