The controlling shareholder of weight-loss drug maker Novo Nordisk on Monday mentioned it’s shopping for a supplier of drug manufacturing for $16.5 billion, and can then promote three key amenities to Europe’s largest firm by market cap.
Novo Holdings, the controlling shareholder of Novo Nordisk
NVO,
mentioned it’s shopping for Catalent
CTLT,
for $16.5 billion in money, or $63.50 per Catalent share, a 16.5% premium to Friday’s shut.
Catalent inventory rose 13% in premarket commerce to $61.48. Novo Nordisk shares in Copenhagen
NOVO.B,
rose 2%.
The deal is a 39% premium to Catalent’s shut earlier than it introduced a strategic evaluate.
The deal will see Novo promote three fill-finish websites to Novo Nordisk shortly after the deal closes, for $11 billion. Novo Nordisk has been struggling to fulfill demand for its well-liked injectable weight-loss medication.
Novo Nordisk mentioned all three websites — in Anagni, Italy; Brussels, and Bloomington, Ind. — have ongoing relationships with the Danish drugmaker and make use of greater than 3,000 folks.
“It 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,” mentioned the Danish firm.
Catalent has greater than 50 websites globally.
Catalent investor Elliott Investment Management mentioned it helps the deal. The activist investor ranks because the no. 11 shareholder of Catalent, with a historic price per share of $46.80, in keeping with FactSet.
Novo Holdings had property of €108 billion on the finish of 2022.