EU antitrust regulators to rule on Novo's Catalent buy by Dec. 6 (updated)

Catalent

04/11/2024 08:05

(Adds details)
    By Foo Yun Chee and Maggie Fick
       BRUSSELS/LONDON, Nov 4 (Reuters) - EU antitrust
regulators will decide by Dec. 6 whether to clear Novo Holdings'
acquisition of contract drug manufacturer Catalent  CTLT.N ,
according to a filing on the European Commission website on
Monday.
     The controlling shareholder of Novo Nordisk  NOVOb.CO  put
in a request for EU approval for the deal on Oct. 31, the filing
showed.
    The EU antitrust regulators can either clear the deal with
or without remedies or it can open a full-scale four-month long
investigation if it has serious concerns.
    The acquisition, announced in February, underscores Danish
drugmaker Novo Nordisk's push to boost output of its popular
obesity drug Wegovy.
    Novo Holdings, Novo Nordisk and Catalent have all recently
reiterated their expectations that the transaction will close
towards the end of this year.
    Pharmaceuticals giant Roche  ROG.S  has called enforcers to
veto the deal on concerns that it could hit competition in the
booming weight-loss drug industry. Eli Lilly  LLY.N , Novo's
main rival in the obesity and diabetes drug market, has also
expressed worries.
    The deal has been criticised by U.S. consumer groups, who
last month urged the U.S. Federal Trade Commission to block it,
saying it threatens competition in the booming weight-loss drug
industry. 

 (Reporting by Foo Yun Chee in Brussels and Maggie Fick in
London; Editing by Susan Fenton)
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