Ozempic Maker Novo Sells $5 Billion in Bonds to Fund Deal
- Acquisition of Catalent sites to help Novo expand production
- Novo earlier this month raised forecast due to high demand
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Novo Nordisk A/S is selling €4.65 billion ($5 billion) in bonds to fund plans to ramp up production of its blockbuster drugs, drawing high investor demand for its first debt issuance in more than two years.
The sale is Novo’s first since it became Europe’s most valuable company and a pop-culture phenomenon, sparked by excessive demand for its diabetes treatment Ozempic and obesity medicine Wegovy. The proceeds will help the Danish pharmaceutical giant finance its $11 billion acquisition of factories from Catalent Inc., a Novo spokesperson said by email.