Catalent's (CTLT) proposed acquisition by Novo Nordisk's (NVO) parent Novo Holdings has been approved by the European Commission "unconditionally," the Commission said Thursday.
The Commission said it determined after an investigation that the transaction would not raise competition concerns in the European Economic Area.
Catalent and Novo Holdings said Friday that the transaction is on track to close toward the end of the year.
The all-cash deal, which values Catalent at $16.5 billion, could help boost production of Novo Nordisk's weight-loss drug Wegovy.
Novo Nordisk's shares in the US added 2% in recent Friday trading.
Price: 61.89, Change: -0.23, Percent Change: -0.37
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