Novo Nordisk's Parent Acquires Catalent for $16.5 Billion to Expand Wegovy Production

Novo Nordisk's parent company is set to acquire drug manufacturer Catalent for $16.5 billion, aiming to enhance the supply of weight-loss drug Wegovy and diabetes shot Ozempic. The deal includes the purchase of three manufacturing sites from Catalent's parent company, Novo Holdings, and is expected to close by the end of 2024. Novo Nordisk anticipates the acquisition to gradually increase its filling capacity from 2026 onwards. The move comes as Novo Nordisk seeks to bolster its drug manufacturing capabilities amid rising competition in the weight loss drug market, with the deal receiving support from activist investor Elliott Investment Management.