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Roche CEO Urges FTC to Block Novo Nordisk's Acquisition of Catalent
Roche's CEO, Thomas Schinecker, has called on authorities to prevent Novo Nordisk’s controlling shareholder, Novo Holdings, from acquiring contract drug manufacturer Catalent. Schinecker voiced concerns about the potential negative impact on competition, particularly for smaller industry players. "While this doesn’t directly affect us, it could restrict options for smaller competitors if the number of available contract manufacturers decreases," he stated during a media call following Roche's quarterly sales report.
Consumer advocacy groups and labor unions recently petitioned the U.S. Federal Trade Commission (FTC) to intervene against the acquisition, citing risks to competition in the market for weight loss drugs and advanced gene therapies. They argued that the deal could limit opportunities for rivals like Amgen, Pfizer, Roche, and AstraZeneca, all of whom are developing obesity treatments, some based on complex peptides.
Other companies, such as Viking Therapeutics, Structure Therapeutics, and Sun Pharma, could also be impacted by this acquisition.
In contrast, Novo Holdings has defended its position, asserting a "pro-competitive rationale" for the deal. Teresa Graham, head of Roche's pharmaceutical division, reassured stakeholders that Roche is well-prepared, stating, "We have secured capacity with other contract manufacturing organizations and are confident in our production capabilities."
Roche plans to utilize a combination of in-house and external manufacturing for its forthcoming obesity drug launches, ensuring a steady supply chain.
