Catalent, Inc. ("Catalent") and Novo Holdings A/S ("Novo Holdings") have announced that the European Commission ("EC") has granted unconditional approval for Novo Holdings' pending acquisition of Catalent. This transaction is expected to close towards the end of the calendar year 2024, subject to the satisfaction of other customary closing conditions, including receipt of all requisite regulatory clearances.
Catalent, a global leader in enabling pharma, biotech, and consumer health partners, has generated approximately $4.4 billion in revenue in its 2024 fiscal year. The company's workforce comprises approximately 17,000 employees, including more than 3,000 scientists and technicians. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. The company helps accelerate over 1,500 partner development programs and launches over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply nearly 70 billion doses of nearly 8,000 products annually.
Upon completion of the transaction, Novo Holdings will support Catalent in its next chapter as it continues to create value for stakeholders, ultimately delivering better outcomes for the company’s customers and the patients they serve. The acquisition is seen as a significant milestone toward completing the pending transaction with Novo Holdings.
Advisors to the transaction include Citi and J.P. Morgan, who served as financial advisors to Catalent. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Catalent, while Jones Day served as legal advisor to the Catalent board of directors. Morgan Stanley & Co. LLC served as financial advisor to Novo Holdings, with Goodwin Procter LLP and Linklaters LLP serving as legal advisors to Novo Holdings. Arnold & Porter Kaye Scholer LLP and Davis Polk & Wardwell LLP served as legal advisors to Novo Nordisk.
This update follows the approval from the European Commission and provides insight into the financial and operational aspects of the pending transaction between Catalent and Novo Holdings, shedding light on the companies' strategies and future prospects. The market has reacted to these announcements by moving the company's shares -0.5% to a price of $61.84. For the full picture, make sure to review Catalent's 8-K report.
