Novo Holdings has completed the previously announced acquisition of Catalent in a $16.5bn all-cash transaction.

The European Commission (EC) gave its approval in early December 2024.

Catalent’s common stock will no longer be listed on the New York Stock Exchange.

Catalent common stockholders will obtain $63.50 per share in cash. This reflects a 47.5% premium over the stock’s 60-day volume-weighted average price as of 2 February 2024.

The company aims to enhance its status as a global service provider for the pharmaceutical and biotechnology sectors while operating under private ownership.

Catalent president and CEO Alessandro Maselli will continue to lead the company following the acquisition.

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Novo Holdings CEO Kasim Kutay stated: “We are pleased to welcome Alessandro and the talented Catalent team to the Novo Holdings family.

“Catalent plays a key role in driving product development, launch and supply solutions for pharma, biotechnology and consumer health companies, and its mission is closely aligned with Novo Holdings’ purpose to invest for the benefit of people and the planet.”

In a strategic follow-up to the acquisition, Novo Nordisk also purchased three of Catalent’s fill-finish facilities from Novo Holdings. They are located in Bloomington in the US state of Indiana, Brussels, Belgium and Anagni, Italy along with related assets from Novo Holdings.

The deal for the manufacturing sites was initially announced in February.

For Catalent, Citi and JP Morgan acted as financial advisors.

Skadden, Arps, Slate, Meagher & Flom, and Jones Day served as legal advisors to Catalent and the company’s board of directors respectively.

Novo Holdings was advised by Morgan Stanley & Co. Legal advisory services for the company were provided by Goodwin Procter and Linklaters, and Arnold was legal advisor to Novo Nordisk.