
Novo Holdings has received unconditional clearance from the European Union’s antitrust regulators for its $16.5 billion acquisition of U.S.-based contract drug manufacturer Catalent. The European Commission, which reviewed the deal, found no competition concerns and announced the decision on Friday. According to Reuters, this approval brings Novo Holdings closer to finalizing the deal, which is expected to close by the end of the year.
Novo Holdings, a significant stakeholder in Danish pharmaceutical giant Novo Nordisk, sought the acquisition to bolster its presence in the drug manufacturing sector. Novo Nordisk, widely recognized for its weight-loss medication Wegovy, has seen rapid sales growth, making it Europe’s most valuable company by market capitalization.
Read more: Novo Holdings Nears EU Approval for $16.5 Billion Catalent Acquisition
In its assessment, the European Commission concluded that the transaction posed no risks to competition within the European Economic Area (EEA), which comprises the 27 EU member states along with Iceland, Liechtenstein, and Norway. The Commission stated, “The proposed merger would not raise competition concerns on any of the markets examined in the EEA or on any substantial part of it.”
The regulators also noted that the market includes sufficient alternatives, ensuring competition remains robust even after the merger. This finding aligns with the strategy Novo Holdings aims to execute with its expanded footprint in the pharmaceutical sector.
Jonathan Levy, a senior partner at Novo Holdings, expressed optimism about the progress, stating, “With the European Commission’s approval, we are one step closer to delivering the benefits of this transaction.”
Source: Reuters
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