Biologics

Novo Nordisk’s Acquisition of Three Fill-Finish Sites Linked to the Catalent, Inc. Deal with Novo Holdings A/S

Published February. 22. 2024

Novo Nordisk made an announcement today regarding the company’s agreement to acquire three fill-finish sites from Novo Holdings A/S as part of a broader transaction involving Novo Holdings’ acquisition of Catalent, Inc. Novo Nordisk and Catalent have a longstanding collaborative relationship.

The acquisition of these fill-finish sites aligns with Novo Nordisk’s strategic goal of expanding its reach to more individuals affected by diabetes and obesity through current and future treatments. This move facilitates an increase in manufacturing capacity on a large scale, offering flexibility and future options for Novo Nordisk’s existing supply network. The anticipated impact of this acquisition is a gradual rise in Novo Nordisk’s filling capacity starting from 2026.

The three specialized manufacturing sites, located in Anagni (Italy), Brussels (Belgium), and Bloomington (Indiana, US), focus on the sterile filling of drugs. With over 3,000 employees collectively, these sites have established collaborations with Novo Nordisk.

Novo Nordisk will acquire these sites for an upfront payment of 11 billion USD. Lars Fruergaard Jørgensen, President and CEO of Novo Nordisk, expressed satisfaction with the agreement, emphasizing that it complements the company’s significant investments in active pharmaceutical ingredients facilities. The acquisition is expected to have a low single-digit negative impact on operating profit growth in 2024 and 2025. As the acquisition is mainly debt-financed, Novo Nordisk’s DKK 20 billion share buyback program remains unaffected.

This acquisition is part of the broader merger between Catalent and a subsidiary of Novo Holdings. The completion of the acquisition is contingent on the merger’s timing, expected towards the end of 2024, subject to customary closing conditions, shareholder approvals, and regulatory authorities’ clearance. Until the closing, Catalent will operate independently, and after completion, Novo Nordisk will fulfil all customer obligations at the acquired sites.

 

About Novo Nordisk

Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases, built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines, and working to prevent and ultimately cure disease. Novo Nordisk employs about 63,400 people in 80 countries and markets its products in 170 countries. Novo Nordisk’s B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO).

About Catalent

Catalent is a global Contract Development and Manufacturing Organisation (CDMO) headquartered in Somerset, New Jersey in the US. The company has over 50 global sites and employs more than 18,000 people including 3,000 scientists and technicians.

 

Source: https://www.novonordisk.com/news-and-media/news-and-ir-materials/news-details.html?id=167017

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