CTLT

Catalent quarterly sales inch past estimates amid Novo Holdings' takeover

Credit: REUTERS/YVES HERMAN

Adds CEO quote in paragraph 4, details throughout

Feb 9 (Reuters) - Catalent CTLT.N reported quarterly revenue that came in slightly above Wall Street estimates on Friday, days after the contract drug manufacturer agreed to a $16.5-billion acquisition offer from Novo Nordisk's NOVOb.CO parent firm.

Revenue for the second quarter was $1.03 billion, compared to analysts' estimate of $1.01 billion, according to LSEG data, helped by improved production across Catalent's key facilities.

The company is the main supplier of fill-finish work - involving the filling and packaging of syringes and injection pens in sterile conditions - for Novo's popular weight-loss drug Wegovy.

"With the benefit of Novo Holdings’ expanded resources, we will be able to accelerate investment in our business and enhance key offerings for current and prospective pharma and biotech customers," CEO Alessandro Maselli said.

After the deal closes, Novo parent firm Novo Holdings will sell three of Catalent's key fill-finish sites in Anagni, Italy, Brussels, Belgium and Bloomington, Indiana, to Novo Nordisk for $11 billion.

Catalent's Belgium and U.S. sites already undertake fill-finish work for Wegovy.

Catalent posted a net loss of $1.12 per share for the quarter. It had reported a profit of 44 cents in the comparable quarter last year.

(Reporting by Sriparna Roy and Bhanvi Satija in Bengaluru; Editing by Pooja Desai)

((Sriparna.Roy@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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