financetom
Business
financetom
/
Business
/
Catalent misses Q1 revenue estimates ahead of $16.5 bln deal close with Novo Holdings
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Catalent misses Q1 revenue estimates ahead of $16.5 bln deal close with Novo Holdings
Nov 6, 2024 12:29 AM

Nov 5 (Reuters) - Contract drug manufacturer Catalent ( CTLT )

, which is in the process of being acquired by Novo

Holdings, posted a surprise first-quarter loss and revenue below

Wall Street estimates on Tuesday.

WHY IT'S IMPORTANT

The company provides filling and packaging services for

syringes and injection pens in sterile conditions, including for

Danish drugmaker Novo Nordisk's popular weight-loss

treatment Wegovy.

Novo Holdings, the investment firm that has a controlling

interest in Novo Nordisk, agreed to buy Catalent ( CTLT ) in February to

boost the supply of Wegovy.

CONTEXT

Catalent ( CTLT ) said the deal is expected to close towards the end

of this year, after which the parent firm will sell three of the

contract manufacturer's key fill-finish sites to Novo Nordisk

for $11 billion.

On Monday, a regulatory filing showed EU antitrust

regulators will decide by Dec. 6 whether to clear the deal.

In May, the U.S. Federal Trade Commission had sought more

information on the deal.

The deal has been criticized by some U.S. consumer and labor

groups that have urged the FTC to block it, saying it threatens

competition in the booming weight-loss drugs industry.

Drugmakers Roche and Eli Lilly ( LLY ) have also

expressed concerns.

BY THE NUMBERS

Catalent's ( CTLT ) revenue for fiscal first quarter ended Sept. 30

was $1.02 billion, marginally below analysts' estimates of $1.06

billion, according data compiled by LSEG.

Revenue from its biologics segment was $461 million, missing

expectations of $470.57 million.

Its pharmaceuticals and consumer health segment posted sales

of $563 million, below estimates of $566.60 million.

Catalent ( CTLT ) posted a quarterly adjusted loss of 13 cents per

share. Analysts were expecting a profit of 5 cents.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Hawaiian Electric Among Firms Eyeing $4 Billion Maui Fire Deal- Bloomberg News
BRIEF-Hawaiian Electric Among Firms Eyeing $4 Billion Maui Fire Deal- Bloomberg News
Jul 18, 2024
July 18 (Reuters) - * HAWAIIAN ELECTRIC AMONG FIRMS EYEING $4 BILLION MAUI FIRE DEAL- BLOOMBERG NEWS Source text: https://tinyurl.com/283klbx5 Further company coverage: ...
BRIEF-Abacus Life Announces Agreement To Acquire Carlisle Management Company SCA
BRIEF-Abacus Life Announces Agreement To Acquire Carlisle Management Company SCA
Jul 18, 2024
July 18 (Reuters) - Abacus Life Inc ( ABL ): * ABACUS LIFE ANNOUNCES AGREEMENT TO ACQUIRE CARLISLE MANAGEMENT COMPANY SCA * ABACUS LIFE INC ( ABL ) - TO ACQUIRE CARLISLE FOR $200 MILLION * ABACUS LIFE ( ABL )- CARLISLE SHAREHOLDERS TO GET CONSIDERATION AS $73.5 MILLION IN PAR VALUE OF ABACUS BONDS & 9.3 MILLION ABACUS COMMON...
Fedex Insider Sold Shares Worth $607,822, According to a Recent SEC Filing
Fedex Insider Sold Shares Worth $607,822, According to a Recent SEC Filing
Jul 18, 2024
05:13 PM EDT, 07/18/2024 (MT Newswires) -- Brie Carere, Executive Vice President, Chief Customer Officer, on July 18, 2024, sold 1,958 shares in Fedex ( FDX ) for $607,822. Following the Form 4 filing with the SEC, Carere has control over a total of 19,937 shares of the company, with 19,937 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1048911/000112760224020689/xslF345X03/form4.xml Price: 306.76, Change:...
Occidental Petroleum Expects to Close CrownRock Acquisition in August
Occidental Petroleum Expects to Close CrownRock Acquisition in August
Jul 18, 2024
05:13 PM EDT, 07/18/2024 (MT Newswires) -- Occidental Petroleum ( OXY ) said late Thursday that the closing conditions for its acquisition of CrownRock have been satisfied as a regulatory waiting period has expired. The company said some conditions to be satisfied at closing are remaining. The deal will likely close in August, according to Occidental Petroleum ( OXY )....
Copyright 2023-2026 - www.financetom.com All Rights Reserved