Catalent (NYSE: CTLT) has agreed to sell its oral drug development and small-scale manufacturing facility in Somerset, New Jersey to private contract drug manufacturer Ardena, the companies said on Monday.
Catalent provides contract manufacturing services and performs fill-finish work, which involves the sterile filling and packaging of syringes and injection pens, for drugmakers including Danish pharma major Novo Nordisk’s drug Wegovy.
In February, Novo Holdings, the investment firm that has a controlling interest in Novo Nordisk (NYSE: NVO), signed a $16.5 billion deal to buy Catalent to boost Wegovy supply, with the deal expected to close toward the end of this year.
Catalent and Ardena did not disclose the financial terms of the deal, which is expected to close in early 2025.
Ardena, a provider of drug development services, said the facility will help boost its commercial production of oral drugs. The FDA-approved Somerset facility employs about 200 scientists and technicians, Ardena said.
(Source: Reuters)
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies.
