Novo Nordisk Parent Company Will Buy Catalent for $16.5 Billion to Boost Wegovy Supply

Novo Nordisk notched a win on Monday in its race to boost output of its popular obesity drug Wegovy, with its parent company announcing it was buying Catalent, a key manufacturing subcontractor of the product, for $16.5 billion.

Kasim Kutay, CEO of Novo Holdings, told Reuters the deal is core to his company’s strategy to support Novo Nordisk and enable the drugmaker to expand fill-finish capacity to meet soaring demand for Wegovy.

Novo Holdings, the investment arm of Novo’s controlling shareholder, the Novo Nordisk Foundation, will buy Catalent’s shares for $11.5 billion before including debt.

Read the source article at Yahoo Finance