Catalent Leaders Allegedly Misled Investors on Revenue, Demand

Catalent Inc.‘s current and former executives and board members misrepresented the drugmaker’s business and finances for more than a year, a shareholder derivative suit says.

Catalent experienced rapid growth in the beginning of the Covid-19 pandemic, working with Moderna and AstraZeneca to package vaccine syringes. But Catalent allegedly cut corners in production to keep pace with rapid growth, which defendants hid from investors in misleading public statements, a shareholder said Aug. 11 in a lawsuit filed in the US District Court for the District of Delaware.

Catalent’s executives and directors also allegedly began inflating reported revenues and falsely representing ...