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Catalent reported second-quarter revenue slightly above Wall Street estimates on Friday, days after the contract drug manufacturer agreed to a $16.5-billion acquisition offer from Novo Nordisk's parent firm.
Large bank stocks such as Berkshire Hathaway Inc. NYSE: BRK.B, JPMorgan Chase & Co. NYSE: JPM, and Citigroup Inc. NYSE: C are up in the past month as it's become clear that interest rates will remain high for the foreseeable future.
Novo Nordisk A/S CEO Lars Fruergaard Jorgensen discusses the company's acquisition of Catalent for for $16.5 billion and the production of its weight-loss drug Wegovy and diabetes treatment Ozempic. For more on this story, please see: https://www.bloomberg.com/news/articles/2024-02-05/novo-nordisk-spends-11-billion-on-meeting-obesity-drug-demand --------
The European Union's drugs regulator said on Wednesday it will investigate any risks to the availability of medicines processed at Catalent sites that will be sold to Novo Nordisk , part of its mandate to prevent drug shortages.
Catalent (CTLT) inks a merger agreement with Novo Holdings, under which the latter will acquire Catalent for $16.5 billion.
U.S. drug regulators in November found quality control lapses at the Bloomington, Indiana factory of contract drug manufacturer Catalent , including discovery of a "pest" on the manufacturing line, according to an inspection report.
Novo Nordisk (NYSE:NVO)'s takeover of three production sites through the acquisition of Catalent Inc (NYSE:CTLT) is a sensible move, analysts say, and will help meet demand for its flagship weight loss drugs. Though Catalent already provides two filling lines for Novo's injectable Wegovy drug in Belgium and the US, transfer of ownership will see production capacity increase further, according to JP Morgan analysts, eventually also including the Ozempic treatment.
Catalent (CTLT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
The pharmaceuticals manufacturing leader is being acquired by Novo Holdings. The transaction should close toward the end of 2024.
The shares of pharmaceutical concern Catalent Inc (NYSE:CTLT) are surging today, after news that Novo Holdings, the controlling shareholder of Novo Nordisk (NVO), is purchasing the company for $11.5 billion.