Novo Nordisk owner to acquire major stake in Austrian life sciences firm

Novo Holdings, the majority owner of weight loss drugmaker Novo Nordisk (NVO) (OTCPK:NONOF), announced Wednesday an agreement to acquire a roughly 60% controlling stake in Single Use Support, an Austrian life sciences firm.

While Novo Holdings declined to disclose the financial terms of the deal, citing a spokesperson, Reuters reported that the transaction implied a “high triple-digit million euros” amount.

Kufstein, Austria-based Single Use Support, works with leading drugmakers and contract manufacturers to offer solutions for biological drug substances, cell and gene therapies, and mRNA vaccines.

Post-transaction, Johannes Kirchmair and Thomas Wurm, co-founders of Single Use Support, will each retain 10% ownership, along with U.S. life sciences company Danaher (NYSE:DHR), which will keep its 20% stake.

The deal follows a $16.5B deal Novo Holdings inked early this year to acquire U.S. contract manufacturer Catalent (CTLT) in a major push to ease supply constraints for Novo’s (NVO) weight loss therapy Wegovy.