Goodwin Procter and Skadden, Arps, Slate, Meagher & Flom are taking the lead in a deal that will allow Scandinavian pharmaceutical company Novo Nordisk A/S to adapt to escalating demand for Wegovy and Ozempic. These popular drugs, both produced by Novo Nordisk, are used in the treatment of diabetes and obesity.
Goodwin Procter is acting as counsel for Novo Nordisk’s largest shareholder, Novo Holdings, while Skadden represent Catalent Inc., a drug manufacturing company that Novo Holdings is set to purchase for $16.5 billion. Additionally, Jones Day is providing advisory services to Catalent’s board.
The Goodwin team working on this project is led by partners Matt Mauney, Josh Zachariah, Kirkie Maswoswe, Rachel Frankeny and Andrew Kimball. Skadden’s team includes partners Todd Freed, Patrick Lewis, Richard Grossman, Page Griffin and Maria Raptis. Notably, Skadden also played an advisory role in Catalent’s settlement with affiliates of activist investor Elliott Investment Management, who are backed by Novo in the sale.
Driven by increasing demand for Wegovy and Ozempic, the deal is designed to bolster Novo Nordisk’s production capacity. Completion is expected by the close of the year, contingent on regulatory and shareholder approval, as stated by the firms involved. Any updates on this case will be followed closely by legal professionals and drug manufacturers across the globe who eagerly anticipate how the proliferation of these drugs will shape the industry.
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