Catalent Falls Short of Q1 Revenue Projections Amid Growing Opposition to Novo Holdings’ $16.5 Billion Acquisition

Revenue Miss:
Catalent reported $1.02 billion in revenue for Q1 fiscal 2025, missing analyst expectations of $1.06 billion.

Segment Performance:
The biologics segment saw a 3% year-over-year increase to $461 million, below the expected $484 million, while the pharmaceuticals and consumer health segment grew 5% to $563 million, missing the $574 million estimate.

Adjusted EBITDA:
Catalent reported $125 million in adjusted EBITDA, an 11% increase year-over-year but below the analyst forecast of $156 million.

Acquisition Concerns:
The miss comes amid growing opposition to Novo Holdings' proposed $16.5 billion acquisition of Catalent, with concerns raised by Eli Lilly, Roche, and Senator Elizabeth Warren about potential anti-competitive impacts.

Customer Confidence:
Despite the revenue miss, Catalent CEO Alessandro Maselli highlighted "customers' continued confidence" in the company, citing double-digit growth in non-COVID revenue and adjusted EBITDA.