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FTC Seeks More Info On $16.5 Billion Novo/Catalent Deal

By Colin Kellaher


A $16.5 billion deal aimed at boosting Novo Nordisk's production of the weight-loss drug Wegovy is drawing extra scrutiny from U.S. antitrust regulators.

Novo Holdings, which owns a controlling stake in Novo Nordisk, in February agreed to buy contract drug maker Catalent with plans to flip three of Catalent's most critical plants to Novo Nordisk for $11 billion to help meet demand for Wegovy and its cousin diabetes drug Ozempic.

In a filing with the Securities and Exchange Commission on Friday, Catalent said the Federal Trade Commission has asked the company and Novo for additional information and documentary materials as the antitrust enforcer reviews the deal.

The so-called second request by the FTC signals the agency is reviewing whether the deal could be anticompetitive under U.S. law.

The FTC has become more active under the Biden administration in taking action against large mergers, and the agency last month sued to block Tapestry's $8.5 billion acquisition of rival Capri Holdings, saying the deal would give the combined firm too much power in the market for accessible luxury handbags.

Catalent said the company and Novo will cooperate with the FTC in an effort to obtain an antitrust green light "as expeditiously as possible," adding that they expect to complete the transaction toward the end of 2024.


Write to Colin Kellaher at


(END) Dow Jones Newswires

May 03, 2024 09:51 ET (13:51 GMT)

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