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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.
Shares of syringe maker Catalent (CTLT) soared 10% in early trading after it signed a deal to be sold to the controlling shareholder of Novo Nordisk (NVO) for $16.5 billion.
Catalent (NYSE: CTLT ) stock is climbing higher on Monday after the company agreed to sell itself to Novo Nordisk (NYSE: NVO ) parent Novo Holdings for $16.5 billion. The transaction will have Novo Holdings paying $63.50 per share in cash for CTLT stock.
Catalent is the main supplier of fill-finish work, which involves filling and packaging syringes and injection pens, for Novo Nordisk's Wegovy.
Shares in drug manufacturer Catalent Inc (NYSE:CTLT) soared over 11% in pre-market trading as news broke that Novo Nordisk (NYSE:NVO)'s controlling shareholder was to buy the firm for US$16.5 billion. Novo Holdings, which owns a majority stake in the weight loss drug maker, unveiled the takeover on Monday, which includes assumed debt and, at US$63.50 a share, represents a 16.5% premium on Catalent's Friday closing price.
Novo Holdings will acquire Catalent for $63.50 a share in cash.
Novo Holdings, the holding company of Novo Nordisk , will buy contract drugmaker Catalent in an all-cash transaction worth $11.5 billion in equity value to expand its capacity for popular weight-loss drug Wegovy, the companies said on Monday.
Novo Holdings, the controlling shareholder of Novo Nordisk NVO, -1.80%, said it's buying Catalent CTLT, +2.67% for $16.5 billion in cash, or $63.50 per Catalent share, a 16.5% premium to Friday's close. The deal is a 39% premium to Catalent's close before it announced a strategic review.