LONDON, May 15 (Reuters) - Novo Holdings, the
controlling shareholder of Danish obesity drugmaker Novo Nordisk
, said on Wednesday it would buy a controlling stake
of about 60% in Single Use Support, an Austria-based life
science tools company.
It declined to give a precise value for the deal but a
spokesperson said it would be a "high triple-digit million
euros" amount.
Single Use Support's two founders will each retain 10% and
U.S. life sciences firm Danaher ( DHR ) will retain 20%.
CONTEXT
Novo Holdings is the investment arm of the Novo Nordisk
Foundation and has 77% of voting shares in Novo Nordisk, which
produces blockbuster obesity drug Wegovy and diabetes treatment
Ozempic.
Novo Holdings CEO Kasim Kutay told Reuters in October that
the huge Wegovy windfall would increase the size of deals it
would do in healthcare, particularly for well-established
life-science companies.
WHY IT'S IMPORTANT
Novo Holdings said the acquisition was part of its focus on
companies that provide services to the pharmaceuticals industry.
In February, Novo Holdings said it would buy Catalent ( CTLT )
, a large U.S.-based contract drugmaker that helps make
Wegovy, for $16.5 billion.
Single Use Support, founded in 2017, makes equipment and
consumables to support the production of drugs, in particular
biologic medicines, cell and gene therapies, and mRNA vaccines.
KEY QUOTE
Single Use Support "got a huge boost" from business from
Moderna ( MRNA ) during the COVID-19 pandemic, Johan Hueffer,
senior partner in principal investments at Novo Holdings told
Reuters.
"They've been growing like a weed and we think there's a lot
more runway to go because they have a very good product," he
said.
"Our aim is to help them take that product to further
customers in Europe but also more globally, and we've got the
sort of footprint to help."
Novo Nordisk does not currently use Single Use Support
products for its manufacturing of Wegovy, he said.
($1 = 6.8954 Danish crowns)