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Novo Holdings Nears Eu Approval for 5 Billion Catalent Acquisition Source

Novo Holdings Nears EU Approval for $16.5 Billion Catalent Acquisition: Source

BRUSSELS/LONDON – Novo Holdings is set to gain unconditional EU antitrust approval for its planned $16.5 billion takeover of U.S. contract drug maker Catalent (NYSE: CTLT), a person with direct knowledge of the matter said on Friday, clearing a key hurdle.

Another source said Catalent is preparing senior management for the deal to go through.

Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk (NYSE: NVO), whose profit from blockbuster weight-loss drug Wegovy has made it Europe’s most valuable company by market value.

The deal would help Novo Nordisk boost the output of Wegovy, a once-weekly injection.

The European Commission, which acts as the EU competition watchdog and has set a December 6 deadline for its decision, declined to comment.

Novo Holdings, Novo Nordisk, and Catalent did not immediately respond to requests for comment.

In May, the companies said they had received a second request from the U.S. Federal Trade Commission (FTC) for more information on the deal. However, there has been no update from the U.S. antitrust agency since then.