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Catalent has reduced its headcount by about 300 employees as part of its ongoing restructuring plans, the company disclosed in a regulatory filing on Wednesday.
Catalent (CTLT) reports lower revenues in Biologics segments in its second-quarter fiscal 2024, resulting in overall soft performance.
Although the revenue and EPS for Catalent (CTLT) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
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.