Novo Holdings Completes Acquisition of Catalent

(Reuters) – Novo Holdings has completed its $16.5 billion acquisition of Catalent (NYSE: CTLT), the contract drug manufacturer announced on Wednesday. This comes just days after the companies revealed that all regulatory conditions to finalize the deal were met.

Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk (NYSE: NVO), known for its blockbuster GLP-1 injectable weight-loss drug, Wegovy.

In October, several U.S. consumer groups and two major labor unions had urged the U.S. Federal Trade Commission (FTC) to block the deal. However, the FTC did not contest the acquisition, and EU antitrust regulators also granted approval earlier this month.

Following the completion of the deal, Novo Nordisk will acquire three of Catalent's factories located in Italy, Belgium, and the U.S., where injection pens are filled in sterile conditions.

Novo Holdings agreed to purchase Catalent in February to address the soaring demand for Wegovy, which has caused a tight supply of the highly sought-after medication.