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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.
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.