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Regulatory conditions on Novo Holdings' $16.5 bln Catalent deal fulfilled, companies say
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Regulatory conditions on Novo Holdings' $16.5 bln Catalent deal fulfilled, companies say
Dec 14, 2024 8:35 AM

Dec 14 (Reuters) - All regulatory closing conditions

related to Novo Holdings' $16.5 billion acquisition of

acquisition of U.S. contract drug maker Catalent ( CTLT ) had

been fulfilled, the companies said on Saturday, adding that the

transaction is expected to be completed in the coming days.

Novo Holdings in February agreed to buy Catalent ( CTLT ) to boost

output of the popular weight-loss drug Wegovy. According to the

terms of the deal, Novo Holdings would sell three of Catalent's ( CTLT )

factories, where injection pens are filled in sterile

conditions, in Italy, Belgium and the United States, to Novo

Nordisk for $11 billion.

Novo Holdings is the controlling shareholder of Danish

drugmaker Novo Nordisk, which makes the blockbuster

GLP-1 injectable weight-loss drug Wegovy.

Novo Nordisk said that the acquisition is expected to have a

mid single-digit negative impact on the company's operating

profit growth for 2025, and that the company is not expecting to

initiate a share buyback programme in 2025.

The deal had received EU antitrust approval earlier in

December, and the European Commission said in a statement that

"The proposed merger would not raise competition concerns on any

of the markets examined in the EEA (European Economic Area) or

on any substantial part of it".

Several U.S. consumer groups and two large labor unions had

urged the U.S. Federal Trade Commission (FTC) in October to

block the deal. U.S. Senator Elizabeth Warren had also called on

the FTC to scrutinize the $16.5 billion deal.

The FTC in May had sought more information on Novo's

acquisition of Catalent ( CTLT ). However, there had been no update from

the FTC since then.

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