Shares in
Catalent
surged Monday after the drug manufacturer agreed a $16.5 billion deal to sell itself to the group that controls
Novo Nordisk,
the company behind blockbuster weight-loss drug Ozempic.
Novo Holdings—the controlling shareholder of
Novo Nordisk
—will buy
Catalent
for $63.50 a share in cash, the companies said on Monday. The deal price is a 16.5% premium to Catalent’s stock price as of last Friday and a 47.5% premium to the 60-day volume-weighted average price of the shares. The acquisition is expected to close toward the end of 2024, the companies said.
Catalent stock jumped 13.7% in premarket trading on Monday. Novo Nordisk stock advanced 1.3%.
Write to Jack Denton at jack.denton@barrons.com
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