The EU is set to rule on Novo Nordisk's (NVO.US) acquisition of Catalent (CTLT.US) by December 6
AInvestMonday, Nov 4, 2024 4:20 am ET
1min read
CTLT --
NVO --

According to a document published on the European Commission's website on Monday, the EU antitrust regulator will decide by December 6 whether to approve Novo Nordisk's (NVO.US) acquisition of Catalent (CTLT.US), a US contract drug manufacturer.

The document showed Novo Nordisk's controlling shareholder filed a request for approval of the deal on October 31.

The EU antitrust regulator can approve the deal with or without remedies or launch a four-month in-depth investigation if there are serious concerns.

The acquisition, announced in February, highlights Novo Nordisk's efforts to boost production of its blockbuster weight-loss drug Wegovy.

Novo Nordisk and Catalent recently reiterated their expectations that the deal would be completed by the end of this year.

Drug giant Roche has called on regulators to block the deal, fearing it could stifle competition in the booming weight-loss drug industry. Novo Nordisk's main rival in the obesity and diabetes drugs market, Eli Lilly (LLY.US), has also expressed concerns.

The deal has also been criticised by US consumer groups, who last month urged the US Federal Trade Commission to block the deal, saying it threatened competition in the weight-loss drug industry.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.