Novo Nordisk Completes Acquisition of Catalent and Accelerates with Wegovy

Novo Nordisk completes acquisition of Catalent. Through its subsidiary Novo Holdings, the Danish pharmaceutical company has completed the acquisition process, which it had announced earlier this year .

Although the European Union had promised to have a verdict before December 6th, the approval comes after that deadline , but in time for Novo Nordisk to face the next year together with Catalent.

The deal, for which Novo Nordisk paid 10.66 billion euros , includes the acquisition of three production plants. “The plants will allow us to expand our production capacity with greater scale and speed,” said Lars Fruergaard Jørgensen, president and CEO of the Danish pharmaceutical company.

Novo Nordisk’s goal with this transaction was to produce more Wegovy, the Danish group’s big bet and a drug that has catapulted the company’s valuation, making it the most valuable in Europe.

Novo Nordisk has acquired three factories from the US company, with which it plans to produce more Wegovy

Rivals such as Roche and Eli Lilly have called on the authorities not to approve Novo Nordisk’s purchase of Catalent, accusing the Danish company of unfair competition.

In parallel, the pharmaceutical company Novo Nordisk announced this week that it will open another factory in its local market, for which it will invest 1.14 billion euros. The establishment will specialize in the development of medicines for the treatment of rare diseases .

Novo Nordisk closed the third quarter with revenue of $2.313 billion, up 48% from the same period last year. The company attributed the growth to sales of Wegovy, another weight-loss drug.

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(Featured image by Marek Studzinski via Unsplash)

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