Novo Nordisk’s acquisition of Catalent is expected to be finalized by the end of 2024|Johan Wessman|CC BY 3.0
Danish pharmaceutical Novo Nordisk has agreed to buy contract manufacturing firm Catalent for $16.5 billion to boost production of its weight-loss drug Wegovy.
Novo Holdings, the owner of Novo Nordisk, will buy New Jersey-based Catalent and sell three crucial plants back to Novo Nordisk for $11 billion.
The goal is to address the high demand for anti-obesity and diabetes drugs like Ozempic.
The acquisition is expected to be finalized by the end of 2024, after which Catalent will become a private company.
Novo Nordisk and its weight-loss drug competitor Eli Lilly—maker of Mounjaro—are heavily investing in expanding manufacturing capabilities.