Novo Holdings to Acquire Catalent for $16.5 Billion
Novo Holdings, Novo Nordisk's parent company, is acquiring US contract development and manufacturing organization (CDMO) Catalent for $16.5 billion. The companies said that Novo Holdings will acquire all outstanding shares of Catalent for $63.50 per share in cash.
Of the more than 50 Catalent sites worldwide, Novo Holdings intends to sell three fill-finish sites and related assets acquired in the merger to Novo Nordisk, in which Novo Holdings holds a majority stake, shortly after the closing of the merger. These three sites are located in Anagni, Italy; Bloomington, Indiana, USA; and Brussels, Belgium.
Novo Holdings said that this transaction is aligned with its strategy of investing in established life science companies with strong long-term potential.
Alessandro Maselli, president and CEO of Catalent, said: “Over the past several years, Catalent has built a comprehensive end-to-end offering of services and capabilities to drive innovation in the healthcare system and improve patient outcomes. This transaction is a testament to our team’s hard work and dedication to this mission, and I am incredibly excited for this next step in our journey.”
Kasim Kutay, CEO of Novo Holdings, commented: “We are excited to partner with Catalent as it enters a new phase of growth and accelerates its mission to develop, manufacture and supply products that help people live better and healthier lives. With our expertise and track record of investing in high quality life sciences businesses, we believe Catalent is a very good strategic fit.”
The merger is expected to close towards the end of 2024, subject to customary closing conditions, including approval by Catalent stockholders and receipt of required regulatory approvals.
Upon completion of the merger, Catalent's shares will no longer be traded on the New York Stock Exchange and Catalent will become a private company.
