(Reuters) – Novo Holdings’ $16.5 billion acquisition of U.S. contract drug maker Catalent is set to be completed in the coming days as all regulatory closing conditions have been met, the companies announced on Saturday.
The acquisition, aimed at increasing the production of the weight-loss drug Wegovy, involves Novo Holdings selling three of Catalent’s factories to Novo Nordisk for $11 billion. Novo Holdings, the controlling shareholder of Novo Nordisk, which manufactures Wegovy, expects the deal to have a mid single-digit negative impact on operating profit growth for 2025.
The European Commission had approved the deal earlier in December, stating that it does not raise competition concerns in the European Economic Area. Despite concerns raised by U.S. consumer groups, labor unions, and Senator Elizabeth Warren, the U.S. Federal Trade Commission has not taken any action to block the acquisition.
The FTC had requested more information on the acquisition in May but has not provided any updates since then. Novo Holdings and Catalent are optimistic about the completion of the transaction in the near future.