Novo Holdings Receives EU Antitrust Approval for Catalent Acquisition

By Foo Yun Chee

BRUSSELS (Reuters) – Novo Holdings on Friday gained unconditional EU antitrust approval for its $16.5 billion acquisition of U.S. contract drug maker Catalent (NYSE:CTLT) after EU regulators stated there were no competition issues.

Novo Holdings, the controlling shareholder of Danish drugmaker Novo Nordisk (NYSE:NVO), known for its blockbuster weight-loss drug Wegovy, anticipates closing the deal by year-end.

>The European Commission confirmed that the proposed merger would not raise competition concerns in any of the examined markets within the EEA (European Economic Area), which includes the 27 EU countries, Iceland, Liechtenstein, and Norway.

The EU antitrust watchdog noted the presence of sufficient competing alternatives in the market.

"With the European Commission's approval, we are one step closer to delivering the benefits of this transaction," stated Jonathan Levy, senior partner at Novo Holdings.

Soaring sales of Wegovy have made Novo Nordisk Europe's most valuable company by market value.