Catalent stockholders approve buyout by Novo Holdings

View of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels

(Reuters) - Catalent said on Wednesday its stockholders have voted to approve Novo Nordisk parent's $16.5 billion bid to take over the contract manufacturer.

In February, Novo Holdings had agreed to buy Catalent, a key manufacturing subcontractor of Wegovy, to boost the output amid soaring demand for the blockbuster obesity drug.

Stockholders approved the deal with 99.2% of the ballots cast in favor of the proposed deal, the company said.

The U.S. Federal Trade Commission, earlier this month, sought more information on the deal, weeks after Novo's parent had refiled an application seeking the antitrust agency's nod.

Catalent reiterated the deal is expected to close towards the end of 2024.

After the deal closes, three of Catalent's fill-finish sites would be sold to Novo Nordisk for $11 billion.

Novo Holdings is the investment arm of Novo Nordisk's controlling shareholder, the Novo Nordisk Foundation.

(Reporting by Sriparna Roy in Bengaluru; Editing by Vijay Kishore and Shailesh Kuber)