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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