We are advising Novo Nordisk on the acquisition

Davis Polk is advising Novo Nordisk on its $11 billion acquisition of three fill-finish sites from Novo Holdings A/S in connection with the acquisition of Catalent, Inc. by Novo Holdings. The three manufacturing sites are specialized in sterile filling of drugs and located in Anagni, Italy; Brussels, Belgium; and Bloomington, Indiana. The three sites employ more than 3,000 people and all have ongoing collaborations with Novo Nordisk. The acquisition will be completed as soon as possible after the merger of Catalent with Novo Holdings, which is expected to be completed in the second half of 2024, upon the satisfaction of various customary conditions precedent including approvals by shareholders in Catalent and regulatory authorities.

Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Its purpose is to drive change to defeat serious chronic diseases, built upon its heritage in diabetes. Novo Nordisk does so by pioneering scientific breakthroughs, expanding access to its medicines and working to prevent and ultimately cure disease.

Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation. Novo Holdings is the controlling shareholder of Novo Nordisk and manages an investment portfolio with a long-term return perspective.

Catalent is a global contract development and manufacturing organization headquartered in Somerset, New Jersey. The company has over 50 global sites and employs more than 18,000 people, including 3,000 scientists and technicians.

The Davis Polk corporate team includes partners William H. Aaronson and Shanu Bajaj and associate Rachel Schlosser. Partner David R. Bauer and counsel Samantha Lefland are providing intellectual property advice. Partner Arthur J. Burke and counsel Gregory S. Morrison are providing antitrust and competition advice. Partner William A. Curran is providing tax advice. Partner Veronica M. Wissel and counsel Joseph S. Brown are providing executive compensation advice. All members of the Davis Polk team are based in the New York office.