Catalent quarterly sales inch past estimates amid Novo Holdings' takeover (updated)

Catalent

09/02/2024 13:14

(Adds CEO quote in paragraph 4, details throughout)
       Feb 9 (Reuters) - Catalent  CTLT.N  reported quarterly
revenue that came in slightly above Wall Street estimates on
Friday, days after the contract drug manufacturer agreed to a
$16.5-billion acquisition offer from Novo Nordisk's  NOVOb.CO 
parent firm. 
    Revenue for the second quarter was $1.03 billion, compared
to analysts' estimate of $1.01 billion, according to LSEG data,
helped by improved production across Catalent's key facilities.
    The company is the main supplier of fill-finish work -
involving the filling and packaging of syringes and injection
pens in sterile conditions - for Novo's popular weight-loss drug
Wegovy.
        "With the benefit of Novo Holdings’ expanded resources,
we will be able to accelerate investment in our business and
enhance key offerings for current and prospective pharma and
biotech customers," CEO Alessandro Maselli said. 
  
        After the deal closes, Novo parent firm Novo Holdings
will sell three of Catalent's key fill-finish sites in Anagni,
Italy, Brussels, Belgium and Bloomington, Indiana, to Novo
Nordisk for $11 billion.
  
        Catalent's Belgium and U.S. sites already undertake
fill-finish work for Wegovy. 
  
        Catalent posted a net loss of $1.12 per share for the
quarter. It had reported a profit of 44 cents in the comparable
quarter last year.
  

 (Reporting by Sriparna Roy and Bhanvi Satija in Bengaluru;
Editing by Pooja Desai)
 ((Sriparna.Roy@thomsonreuters.com;))