Novo Holdings said it would buy contract drugmaker Catalent for $11.5 billion in cash on Monday (February 5).
It made the move as Novo tries to keep up with strong demand for its popular weight-loss drug Wegovy.
Catalent is the main supplier of fill-finish work, or filling and packaging syringes and injection pens for Novo's Wegovy.
Novo will buy three Catalent fill-finish sites as part of the deal.
Novo said the sites will provide strategic flexibility to its existing supply network.
It also expects the deal to gradually help increase its filling capacity from 2026 onwards.
Novo Nordisk faces increased competition from U.S. firm Eli Lilly in the fast-growing obesity drug race.
But both companies face major challenges in meeting exceptionally strong demand.
Analysts estimate the market could be worth as much as $100 billion by the end of the decade.
