The controlling shareholder of weight-loss drug maker Novo Nordisk on Monday said it’s buying a provider of drug manufacturing for $16.5 billion.
Novo Holdings, the controlling shareholder of Novo Nordisk
NVO,
said it’s buying Catalent
CTLT,
for $16.5 billion in cash, or $63.50 per Catalent share, a 16.5% premium to Friday’s close.
Catalent stock rose 13% in premarket trade to $61.48.
The deal is a 39% premium to Catalent’s close before it announced a strategic review.
The deal will see Novo sell three fill-finish sites to Novo Nordisk shortly after the deal closes. Novo Nordisk has been struggling to meet demand for its popular injectable weight-loss drugs.
Catalent has more than 50 sites globally.
Catalent investor Elliott Investment Management said it supports the deal.
Novo Holdings had assets of €108 billion at the end of 2022.
