Announcement • Aug 30

+ 2 more updates

Catalent, Inc. Announces Board Changes

Catalent, Inc. announced several initiatives reflecting its ongoing commitment to strong corporate governance and shareholder value creation. The Nominating and Corporate Governance Committee of the Board has recommended, and the Board has approved, the appointment of four new independent directors: Steven Barg, Frank D’Amelio, Stephanie Okey, and Michelle Ryan. With these appointments, Catalent’s Board of Directors will consist of 16 directors, 13 of whom are independent under the Company’s director independence standards. It is expected that the 12 nominees recommended by In addition, John Greisch has been appointed Executive Chair of the Board and will also chair the new Strategic and Operational Review Committee, as discussed further below. Mr. Greisch is a proven operator and executive in the healthcare industry, with a track record of improving operational execution, enhancing financial performance, and unlocking shareholder value. He most recently served as President and CEO of Hill-Rom Holdings from 2010 to 2018. Prior to that, Mr. Greisch was President, International Operations and CFO of Baxter. Mr. Greisch currently serves as chairman of the board of Viant Medical and as lead independent director on the board of Carrier Corporation, and formerly served on the boards of Cerner Corporation, Idorsia Pharmaceuticals, Hill-Rom Holdings, Actelion, and TomoTherapy. Additionally, he serves as a senior advisor to TPG Capital and is on the board of directors for the Ann & Robert H. Lurie Children’s Hospital of Chicago. Catalent’s Board has also established a new Strategic and Operational Review Committee to conduct a review of the Company’s business, strategy and operations, as well as the Company’s capital-allocation priorities, in order to maximize the long-term value of the Company. The Strategic and Operational Review Committee will be chaired by Mr. Greisch and will include Mr. Barg, Ms. Ryan, Gregory T. Lucier and Jack Stahl. The Committee will make its recommendations to the full Board. In connection with these initiatives, Catalent has entered into a Cooperation Agreement with Elliott Investment Management L.P., one of Catalent’s largest investors, under which Elliott has agreed to customary standstill, voting, confidentiality, and other provisions. Citi is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Jones Day are serving as legal counsel to Catalent. Steven Barg is Global Head of Engagement at Elliott Investment Management L.P. Prior to joining Elliott in February of 2020, Mr. Barg spent 30 years in investment banking, most recently as a Participating Managing Director at Goldman Sachs. During his time at Goldman Sachs, Mr. Barg established and led what became the firm's Global Activism and Shareholder Advisory practice; founded and led the M&A Capital Markets practice; and ran Asian Equity Capital Markets in Hong Kong. In addition, Mr. Barg served on both the Asian and Global Equity Commitments Committees and was Global Head of Diversity for the Investment Banking Division. Prior to joining Goldman Sachs, Mr. Barg served as a Managing Director in Equity Capital Markets at UBS and Credit Suisse, with postings in New York, Hong Kong, and London. Mr. Barg has served on the Board of Directors of Cardinal Health since September 2022. Mr. Barg holds an M.B.A. from the Stanford University Graduate School of Business and a B.A. from Wesleyan University. In addition, Mr. Barg was a Henry Luce Scholar in Hong Kong and a Coro Fellow in Public Affairs in New York. Frank D’Amelio is the former Chief Financial Officer and Executive Vice President, Global Supply, of Pfizer Inc. where he was responsible for all corporate finance functions including audit, controllers, tax, and treasury as well as global supply. Prior to joining Pfizer, Mr. D’Amelio served as Senior Executive Vice President of Integration and Chief Administrative Officer of Alcatel-Lucent, responsible for the 2006 Alcatel-Lucent merger as well as procurement, real estate, IT, and supply chain. Prior to that, Mr. D’Amelio was the Chief Operating Officer of Lucent Technologies, responsible for leading business operations, including sales, the product groups, the services business, the supply chain, information technology operations, human resources, and labor relations. In 2001, he was appointed Executive Vice President and Chief Financial Officer of Lucent. In addition, Mr. D’Amelio held a number of roles while at Lucent Technologies, and before that, served in a variety of positions while at AT&T, including CFO, Transmission Systems and Controller, Network Systems. Mr. D’Amelio has served on the Board of Directors of Humana since September 2003, where he currently serves as Chair of the Audit Committee, on the Board of Directors of Zoetis, Inc. since July 2012, and on the Board of Directors of Hewlett Packard Enterprise since January 2023. He currently serves as a CFO in residence at the Deloitte CFO Academy. Mr. D’Amelio holds an M.B.A. in Finance from St. John’s University and a bachelor’s degree in Accounting from St. Peter’s College. Stephanie Okeyis the former Senior Vice President, Head of North America, Rare Diseases, and U.S. General Manager, Rare Diseases at Genzyme, a Sanofi company, where she worked for 19 years in various executive management roles. By the time of her retirement in July 2015, she had acquired launch and commercialization experience with nine rare disease therapeutics and 4 large market therapeutics during her career. Prior to joining Genzyme, Ms. Okey served in various positions of increasing responsibility in the biopharmaceutical industry, having held roles in field sales and marketing at Bristol Myers Squibb and later Genentech, Inc.Ms. Okey is currently a member of the board of directors of PTC Therapeutics, Inc. and Albireo Pharma, Inc., both publicly traded biopharmaceutical companies. In addition, she previously served as a member of the board of directors of the California Life Sciences Association from October 2014 to January 2016. Ms. Okey holds a B.S. in Zoology from The Ohio State University and an M.S. in Immunology and Medical Microbiology from Wright State University. Effective as of August 28, 2023, (i) Mr. D’Amelio was appointed to the Compensation and Leadership Committee (the “ Compensation Committee”) and the Quality and Regulatory Compliance Committee, (ii) Ms. Okey was appointed to the Compensation Committee and the Nominating Committee, and (iii) Ms. Ryan was appointed to the Audit Committee. On August 23, 2023, Steven Fasman informed the Company of his intent to resign as Executive Vice President and Chief Administrative Officer in order to take on a new opportunity outside of the Company. The Company and the Board express their deep appreciation to Mr. Fasman for his many contributions, dedication and outstanding service to the Company and wish him success in his new role.

Pharmaceuticals Industry Growth	12.39%
Revenue growth rate	10.16%
Return on equity	-28.94%
Net Margin	-23.81%
Last Earnings Update	30 Jun 2024

Date	Revenue	Earnings	G+A Expenses	R&D Expenses
30 Jun 24	4,381	-1,043	935	0
31 Mar 24	4,135	-1,176	887	0
31 Dec 23	4,098	-1,302	853	0
30 Sep 23	4,223	-1,015	829	0
30 Jun 23	4,263	-256	839	0
31 Mar 23	4,495	21	840	0
31 Dec 22	4,731	389	866	0
30 Sep 22	4,799	399	867	0
30 Jun 22	4,802	483	844	0
31 Mar 22	4,703	485	803	0
31 Dec 21	4,483	561	768	0
30 Sep 21	4,177	544	706	0
30 Jun 21	3,998	529	687	0
31 Mar 21	3,757	494	658	0
31 Dec 20	3,465	289	623	0
30 Sep 20	3,275	250	598	0
30 Jun 20	3,094	173	577	0
31 Mar 20	2,872	104	562	1
31 Dec 19	2,729	124	554	2
30 Sep 19	2,631	138	535	3
30 Jun 19	2,518	132	512	0
31 Mar 19	2,478	149	489	4
31 Dec 18	2,488	136	475	5
30 Sep 18	2,471	65	466	5
30 Jun 18	2,463	84	459	6
31 Mar 18	2,395	63	430	7
31 Dec 17	2,300	70	413	7
30 Sep 17	2,177	109	396	7
30 Jun 17	2,075	110	396	7
31 Mar 17	1,991	106	373	7
31 Dec 16	1,896	91	365	7
30 Sep 16	1,867	104	362	8
30 Jun 16	1,848	112	351	8
31 Mar 16	1,826	207	346	10
31 Dec 15	1,835	228	333	10
30 Sep 15	1,836	244	327	11
30 Jun 15	1,831	212	325	12
31 Mar 15	1,840	86	315	14
31 Dec 14	1,847	62	320	15
30 Sep 14	1,832	-3	318	17
30 Jun 14	1,828	19	317	18
31 Mar 14	1,813	2	328	17
31 Dec 13	1,807	-20	326	16

Data	Last Updated (UTC time)
Company Analysis	2024/10/22 00:50
End of Day Share Price	2024/07/25 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Gary Nachman	Goldman Sachs
Tycho Peterson	J.P. Morgan
Rachel Vatnsdal Olson	J.P. Morgan

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Catalent Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

Catalent, Inc. to Report Q2, 2024 Results on Feb 09, 2024

Catalent, Inc. to Report Q1, 2024 Results on Nov 15, 2023

Full year 2023 earnings released: US$1.28 loss per share (vs US$2.74 profit in FY 2022)

Catalent, Inc. to Report Q4, 2023 Results on Aug 29, 2023

Catalent, Inc. Reports Impairment Results for the Quarter Ended March 31, 2023

Catalent, Inc. to Report Q2, 2023 Results on Feb 07, 2023

Recent updates

Catalent, Inc.(NYSE:CTLT) dropped from S&P 500 Value

Catalent, Inc.(NYSE:CTLT) dropped from FTSE All-World Index (USD)

Catalent, Inc Announces Board Changes

Novo Holdings A/S completed the acquisition of Catalent, Inc. (NYSE:CTLT) from a group of shareholders.

Catalent, Inc. announced delayed annual 10-K filing

Insider recently sold Mex$4.4m worth of stock

President recently sold Mex$10.0m worth of stock

Insufficient new directors

Catalent, Inc. announced delayed 10-Q filing

Novo Holdings A/S entered into an agreement to acquire Catalent, Inc. (NYSE:CTLT) from Elliott Investment Management L.P. and other for $11.7 million.

Catalent, Inc. to Report Q2, 2024 Results on Feb 09, 2024

Catalent, Inc. Announces Executive Changes

Catalent, Inc., Annual General Meeting, Jan 25, 2024

Catalent, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2024

Catalent, Inc. announced delayed 10-Q filing

Catalent, Inc. to Report Q1, 2024 Results on Nov 15, 2023

Catalent, Inc. Appoints David McErlane as Group President of Catalent’s Biologics segment, Effective September 25, 2023

Catalent Receives NYSE Notice Regarding Late Form 10-K Filing

Catalent, Inc. Appoints Steven Barg as A Member of the Board of Directors

Catalent, Inc. announced delayed annual 10-K filing

Full year 2023 earnings released: US$1.28 loss per share (vs US$2.74 profit in FY 2022)

Catalent, Inc. Announces Board Changes

President recently sold Mex$1.6m worth of stock

Insufficient new directors

Catalent, Inc. to Report Q4, 2023 Results on Aug 29, 2023

Catalent, Inc. Announces Executive Changes

Catalent, Inc.(NYSE:CTLT) dropped from Russell 1000 Growth Index

Catalent, Inc. Appoints Matti Masanovich as Senior Vice President, Effective July 5, 2023

Catalent Regains Compliance with NYSE Continued Listing Standards

Catalent, Inc. Reports Impairment Results for the Quarter Ended March 31, 2023

New minor risk - Earnings quality

Catalent, Inc. Updates Revenue Guidance for the Full Year of 2023

Catalent, Inc. announced delayed 10-Q filing

Catalent, Inc. Reduces Revenue Guidance for the Fiscal Year 2023

Insider recently sold Mex$1.3m worth of stock

Investor sentiment deteriorates as stock falls 36%

Investor sentiment improves as stock rises 50%

Catalent Appoints Joseph A. Ferraro as Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary

Catalent, Inc. Reiterates Earnings Guidance for the Fiscal Year 2023

Danaher Reportedly Expresses Takeover Interest in Catalent

Catalent, Inc. to Report Q2, 2023 Results on Feb 07, 2023

Catalent, Inc. Announces the Appointment of Ricardo Zayas as Senior Vice President, Operations, Biologics North America

Insider recently sold Mex$796k worth of stock

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Insider recently sold Mex$3.2m worth of stock

First quarter 2023 earnings released

Now 22% undervalued

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Full year 2022 earnings released: EPS: US$2.86 (vs US$3.15 in FY 2021)

Executive Chair of the Board recently sold Mex$80m worth of stock

Insider recently sold Mex$251k worth of stock

Insider recently sold Mex$251k worth of stock

Insufficient new directors

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