Shares of Wegovy Partner Catalent Jump After Striking Deal With Activist Investor Elliott

Shares of Wegovy Partner Catalent Jump After Striking Deal With Activist Investor Elliott

Source: 
Investopedia
snippet: 
  • Struggling pharmaceutical company Catalent secured a deal with activist investor Elliott Investment Management.
  • The company is the main contract manufacturer of Novo Nordisk's fast-growing weight loss drug, Wegovy, for which demand has outstripped supply in recent months.
  • Catalent shares have shed more than half their value over the past year, and are down two-thirds from their peak in September 2021.