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

Monday, February 05, 2024

Today, Novo Nordisk has made public its decision to acquire three fill-finish sites from Novo Holdings A/S as part of a broader transaction involving Novo Holdings' acquisition of Catalent, Inc., a prominent contract development and manufacturing organization headquartered in Somerset, New Jersey. This strategic move is in line with Novo Nordisk's overarching goal of expanding its capacity to provide treatments for individuals affected by diabetes and obesity, which has been a key focus area for the company.

The acquisition of these filling sites is seen as a crucial step in Novo Nordisk's growth strategy, enabling the company to swiftly increase its manufacturing capacity on a large scale. These sites, located in Anagni (Italy), Brussels (Belgium), and Bloomington (Indiana, US), specialize in sterile drug filling and collectively employ over 3,000 individuals. They also have existing collaborations with Novo Nordisk, further enhancing their strategic importance.

The agreed upfront payment for the acquisition amounts to 11 billion USD, reflecting Novo Nordisk's commitment to investing in its expansion plans to better serve a wider patient base. While the acquisition is anticipated to have a slight negative impact on operating profit growth in 2024 and 2025, Novo Nordisk assures that its share buyback program remains unaffected.

The completion of the acquisition is subject to customary closing conditions, including approvals by Catalent shareholders and regulatory authorities, and is expected to be finalized by the end of 2024. Until then, Catalent will continue to operate independently. Novo Nordisk has provided financial commitments to Novo Holdings for the acquisition and regulatory approval process to ensure a smooth transition post-closing.

Novo Nordisk's Board of Directors, supported by independent financial advice from Evercore, has determined that the acquisition is in the best interest of the company and its shareholders. The acquisition underscores Novo Nordisk's dedication to advancing its capabilities and fulfilling its mission of improving patient outcomes in the management of diabetes and obesity.



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