Senator Warren Asks US Antitrust Regulator to 'Carefully Scrutinize' Novo Nordisk's Bid for Catalent

MT Newswires Live10-10

US Senator Elizabeth Warren has asked the US Federal Trade Commission to "carefully scrutinize" the $16.5 billion bid by Novo Nordisk's (NVO) parent company for contract drug maker Catalent (CTLT) and to block the deal if it's found to be in breach of antitrust rules.

"I am concerned that this deal could increase Novo Nordisk's dominance over vital GLP-1 inhibitor drugs, reducing competition and increasing prices for patients," Warren said in a letter to FTC Chair Lina Khan.

Warren said that Eli Lilly (LLY) -- Novo Nordisk's largest rival in the market for GLP-1 weight loss and diabetes drugs -- "also contracts with Catalent to fill and package its drugs at Catalent sites."

"I am concerned that Novo Nordisk's merger with Catalent will give Novo Nordisk unprecedented visibility into and control over its competitor's production capacity, costs, and business practices, and the ability to preference its own products and obstruct its competitors' use of Catalent to produce GLP-1 drugs," Warren said in the letter.

Novo Nordisk and Catalent didn't immediately respond to requests for comment by MT Newswires.

Price: 117.62, Change: +0.62, Percent Change: +0.53

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