Novo Holdings To Acquire Catalent for $16.5 Billion
Novo Holdings, the parent company of Novo Nordisk, has agreed to acquire Catalent for $16.5 billion.
Under the agreement, Novo Holdings intends to sell three Catalent fill–finish sites and related assets acquired in the merger to Novo Nordisk for $11 billion, in which Novo Holdings has a controlling interest, shortly after the closing of the merger. These three sites are in Anagni, Italy; Bloomington, Indiana; and Brussels, Belgium. The three sites employ more than 3,000 people, and all have ongoing collaborations with Novo Nordisk.
The acquisition of the filling sites is aligned with Novo Nordisk’s strategy of increasing production for its diabetes and weight-management drugs. The company says the acquisition enables an expansion of the manufacturing capacity at scale and speed while providing future optionality and flexibility for Novo Nordisk’s existing supply network. The acquisition is expected to gradually increase Novo Nordisk’s filling capacity from 2026 and onwards. After closing of the acquisition, Novo Nordisk says it will honor all customer obligations at the three Catalent sites that it is acquiring.
Under the agreement, Novo Holdings will acquire all outstanding shares of Catalent for $63.50 per share in cash, for a total value of $16.5 billion. The merger is expected to close toward the end of 2024, subject to customary closing conditions, including approval by Catalent stockholders and receipt of required regulatory approvals. The transaction is not subject to any financing contingency.