Catalent Stock Flat Following the Sell Agreement With Ardena

Core Viewpoint - Catalent (CTLT) has entered into a definitive agreement to sell its oral solids development and small-scale manufacturing facility in Somerset, NJ, to Ardena, with the deal expected to close in early 2025 [1] Group 1: Recent Developments - Following the announcement of the sale, CTLT shares closed flat at $60.66, with an 8.8$475 million in October 2022 to acquire a 333,000-square-foot plant in Greenville, NC, which specializes in oral solid dosage forms [3] - In July, Catalent completed the expansion of its clinical supply facility in Schorndorf, Germany, increasing the site's footprint by 32,000 square feet [7] - In May, Catalent entered a strategic partnership with Siren Biotechnology to support the development and manufacturing of AAV immuno-gene therapies [8] Group 2: Merger and Acquisition Activity - In February, Catalent announced a merger agreement with Novo Holdings, valuing the company at $16.5 billion on an enterprise value basis, with Novo Holdings acquiring all outstanding shares for$63.50 each [4][5] - Novo Holdings plans to sell three Catalent fill-finish sites to Novo Nordisk shortly after the merger closes, aligning with its strategy of investing in established life science companies [5] - The merger is expected to close toward the end of calendar year 2024, pending stockholder approval and regulatory approvals [6] Group 3: Market Position and Comparisons - CTLT currently holds a Zacks Rank of 3 (Hold) [9] - Other better-ranked stocks in the medical space include DaVita Inc. (DVA), Baxter International Inc. (BAX), and Boston Scientific Corporation (BSX) [9]