Catalent said this week that it reduced its headcount by approximately 300 employees as part of a restructuring effort. The company confirmed the workforce reduction in its 10-Q quarterly report, filed on Feb. 14. This also coincides with preparations for an acquisition as Novo Holdings agreed to buy the leading pharmaceutical CDMO for $16.5 billion…
Catalent shares up almost 60% in 2023 as acquisition rumors swirl
Contract manufacturing giant Catalent (NYSE:CTLT) is rumored to be the target of a Danaher (NYSE:DHR) acquisition, according to a Bloomberg report. CTLT shares were trading at $72.15 in afternoon trading on Tuesday, an increase of 58.75% over its valuation at the beginning of 2023. The company’s market cap is close to $13 billion. If the deal…
Catalent to invest $40M in biologics facility in Durham, North Carolina
Contract manufacturing giant Catalent has announced that it will set up a new biologics analytical center of excellence in North Carolina’s Research Triangle. The new plant will offer analytical development and testing services for biologics, including cell and gene therapies. Catalent obtained a Job Development Investment Grant (JDIG) from the North Carolina Economic Investment Committee…
Catalent lays off workers, expands clinical supply facility in Shanghai
Contract manufacturing giant Catalent has wrapped up the expansion of a clinical supply facility in the Waigaoqiao Free Trade Zone (FTZ) in Shanghai, China. The company is also cutting 400 temporary and full-time workers in Bloomington, Indiana and more than 210 workers in Texas and Maryland. In a statement from Bloomington, Indiana Mayor John Hamilton blames the…
Novo Nordisk settles Danish securities lawsuit
Novo Nordisk (NYSE:NVO) has settled a securities lawsuit in Denmark filed in August 2019 in the district court of Glostrup. In 2019, Novo Nordisk vowed to fight the allegations contained in the lawsuit, which alleged that the company’s insulin-related profits fell at the same time prices and sales increased from February 2015 and February 2017. The…
Catalent beats The Street in Q1, raises revenue guidance
Catalent (NYSE:CTLT) shares dipped today despite first-quarter financial results that beat the consensus forecast. The Somerset, New Jersey-based company posted profits of $93 million, or 49¢ per share, on sales of $1.025 billion for the three months ended Sept. 30, 2021, for a 13.4% bottom-line gain on sales growth of 21.2%. Adjusted to exclude one-time…
Catalent to make Phathom Pharmaceuticals stomach acid blocker if it wins FDA approval
Catalent announced today that it entered into a commercial supply agreement with Phathom Pharmaceuticals for its acid blocker. The commercial supply agreement covers Phathom’s lead compound, vonoprazan, which is a novel, orally active-potassium competitive acid blocker (P-CAB) for treating gastrointestinal diseases, according to a news release. Phathom currently has vonoprazan in late clinical-stage development for…
Catalent to acquire gummies firm Bettera Holdings for $1B
Catalent (NYSE:CTLT) has been on something of a spending spree during the pandemic. Looking to bolster its nutraceutical business, the company announced it would acquire Plano, Texas–based Bettera Holdings LLC for $1 billion. Bettera specializes in gummy, soft chew and lozenge products within nutritional supplements. Also this year, Catalent has acquired RheinCell Therapeutics, which develops induced…
AstraZeneca could enlist Catalent to produce COVID-19 vaccines
After stopping the production of its COVID-19 vaccine at an Emergent Biosolutions facility in Baltimore, AstraZeneca (LON:AZN) is in negotiations with Catalent (NYSE:CTLT) to shift production to one of its plants in nearby Harmans, Md. FDA has yet to authorize the AstraZeneca COVID-19 vaccine, although it has won full approval in Australia and Brazil and…
Catalent expands biologics manufacturing facility in Wisconsin
Catalent announced today that it completed the expansion of two new suites at its biologics manufacturing facility in Madison, Wis. Somserset, N.J.-based Catalent also commenced work on customer programs in addition to completing the expansion of the biologics drug substance development and manufacturing facility, according to a news release. The company now has five manufacturing…