Novo Holdings' $16.5 bln Catalent buy wins EU antitrust approval (updated)

Catalent

06/12/2024 18:35

(Adds Novo Holdings and Catalent comment)
    By Foo Yun Chee
       BRUSSELS, Dec 6 (Reuters) - Novo Holdings on Friday
gained unconditional EU antitrust approval for its $16.5 bln
acquisition of U.S. contract drug maker Catalent  CTLT.N  after
EU regulators said they did not see any competition issues.
    Novo Holdings, the controlling shareholder of Danish
drugmaker Novo Nordisk  NOVOb.CO , which makes the blockbuster
weight-loss drug Wegovy, said it now expects to close the deal
by year end.
    "The proposed merger would not raise competition concerns on
any of the markets examined in the EEA (European Economic Area)
or on any substantial part of it," the European Commission said
in a statement, confirming a Reuters story.
    The EEA refers to the 27 EU countries, Iceland,
Liechtenstein and Norway.
    The EU antitrust watchdog said there are sufficient
competing alternatives in the market.
    "With the European Commission's approval, we are one step
closer to delivering the benefits of this transaction," said
Jonathan Levy, senior partner at Novo Holdings.
    Soaring sales of Wegovy have made Novo Nordisk Europe's most
valuable company by market value.

 (Reporting by Foo Yun Chee, additional reporting by Ludwig
Burger in Frankfurt; Editing by Louise Heavens)
 ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))