Bloomberg Law
Feb. 27, 2023, 10:39 PM

Catalent Investors Call Shot Maker’s Mid-Pandemic Growth a Sham

Martina Barash
Martina Barash

Catalent Inc. schemed to pad its financial results and create the appearance of continued growth after its initial pandemic surge from packaging Covid-19 vaccines into syringes subsided, an investor alleges in a proposed class complaint.

It inflated its revenue figures through fraudulent accounting and “channel stuffing,” a Rhode Island city’s pension fund alleges, referring to the practice of foisting unneeded product onto distributors and retailers. The City of Warwick Retirement System filed its complaint Feb. 24 in the US District Court for the District of New Jersey.

Investors incurred substantial losses by late 2022 “as they learned that Catalent’s early-COVID ...

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