Catalent, a provider of drug delivery technologies and pharmaceutical development solutions, and Novo Holdings, a life sciences investment firm, have announced that all regulatory conditions for their pending transaction have been met.
The companies have stated that the transaction is expected to close in the coming days.
The agreement, initially announced in February, involves Novo Holdings acquiring Catalent and Novo Nordisk purchasing three fill-finish manufacturing sites from Catalent.
The facilities included in the deal are located in Anagni, Italy; Brussels, Belgium; and Bloomington, Indiana, US. As part of the deal, Novo Nordisk has agreed to an upfront payment of $11bn.
The transaction received shareholder approval from Catalent in May and has subsequently been cleared by regulatory bodies in multiple jurisdictions.
Earlier this month, the European Commission granted unconditional antitrust approval, concluding that the transaction would not raise competition concerns within the European Economic Area, encompassing the 27 EU member states and Iceland, Liechtenstein, and Norway.
Novo Holdings is the majority shareholder of Novo Nordisk, a pharmaceutical company focused on developing treatments for chronic conditions such as diabetes and obesity.
Novo Nordisk’s product portfolio includes medicines in pre-filled syringe formats. Novo Holdings also owns Orexo, a company that produces Zubsolv, a treatment for opioid dependence delivered as orally disintegrating tablets.
Catalent operates as a contract development and manufacturing organisation, engaged in developing and producing medicines for pharmaceutical companies.
The company’s offerings include pre-filled syringes and orally disintegrating tablets, which it supplies to clients, including subsidiaries of Novo Holdings.
Catalent president and CEO Alessandro Maselli said: “As we approach transaction close, I want to thank the Catalent team for all their hard work and share my excitement for our company’s bright future.
“With the support of Novo Holdings and access to additional resources, Catalent will be well-positioned to drive innovation and enhance offerings for the benefit of customers and the patients they serve, ultimately accelerating our strategy to create value for stakeholders.”
Novo Holdings senior partner Jonathan Levy said: “We are pleased to have achieved this latest milestone, which we believe reflects the significant benefits the proposed transaction is expected to deliver.
“As we near close, we are enthusiastic about partnering with and supporting the Catalent team in its mission to drive innovation in the healthcare system and improve patient outcomes.”
