Catalent (CTLT) Chief Executive Alessandro Maselli said Monday that the company will continue to operate as a contract development and manufacturing organization, or CDMO, after its acquisition by Novo Nordisk's (NVO) controlling shareholder Novo Holdings.
In an open letter to customers Monday, Maselli said he would continue as CEO and president of Catalent as he sought to reassure customers, saying Catalent will continue to meet its existing commitments while protecting customers' proprietary production and ingredient information after the deal closes.
Novo Holdings announced plans to buy Catalent in February, with the deal valuing the target company at $63.50 per share.
The buyout is expected to close before the end of 2024, subject to regulatory and shareholder approvals and other customary conditions, the companies have said.
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