Catalent CEO to remain in charge of contract drugmaker after Novo Holdings' buyout (updated)

Catalent

21/10/2024 12:26

(Adds details from letter in paragraph 3, background in
paragraph 4)
       Oct 21 (Reuters) - Catalent  CTLT.N  president and CEO
Alessandro Maselli said on Monday he will stay on as the
contract drugmaker's chief after it is acquired by Novo
Holdings, the controlling shareholder of weight-loss drug
manufacturer Novo Nordisk  NOVOb.CO .
    Maselli's open letter comes on the back of criticism over
Novo Holding's acquisition of Catalent, which U.S. consumer
groups believe could threaten competition in weight-loss drugs
and cutting-edge gene therapies.
    Catalent will operate as an independent contract drugmaker
even after the acquisition, Maselli reiterated, adding that he
wanted to "correct a few key inaccuracies that have been
reported" about the acquisition.
    Several U.S. consumer groups and two large labor unions last
week urged the U.S. Federal Trade Commission to block the $16.5
billion deal, which Novo Holdings has said would boost supply of
Wegovy, Novo's blockbuster GLP-1 injectable weight-loss drug.
 

 (Reporting by Leroy Leo in Bengaluru; Editing by Shinjini
Ganguli)
 ((Leroy.Dsouza@thomsonreuters.com;))