Following Novo Holdings’ decision to resubmit paperwork for their proposed $16.5 billion acquisition of Catalent, a leading CDMO (Contract Development and Manufacturing Organization), the U.S. Federal Trade Commission (FTC) has extended the review period for the deal.
In response to a “second request” from the FTC, Catalent disclosed in a securities filing on Friday that both they and the Novo Nordisk Foundation, the parent company of Novo Holdings and drugmaker Novo Nordisk, have been asked for additional documents and information regarding the proposed acquisition.
The FTC’s second request initiates an additional waiting period of up to 30 days for the agency to assess the deal after the required information is submitted by the Novo Nordisk Foundation and Catalent. Furthermore, Novo and Catalent have the option to extend this waiting period if necessary.
Both Catalent and the Novo Nordisk Foundation are actively working to fulfill the FTC’s request promptly, as indicated in the securities filing.
Despite this delay, Catalent remains optimistic, affirming its expectation that the acquisition will still be concluded by the end of 2024 as originally planned.