SRPT - What's Going On With Biotech Contract Service Firm Catalent Stock Today? | Benzinga
Catalent Inc (NYSE: CTLT) shares are trading lower due to its significant exposure to Sarepta Therapeutics Inc (NASDAQ: SRPT) on the back of disappointing data from a pivotal gene therapy trial.
According to William Blair, Sarepta accounted for nearly 10% of total revenue and roughly 30% of non-COVID biologics revenue in fiscal 2023 for Catalent.
Looking ahead to FY24, Catalent anticipates 30% Y/Y growth in non-COVID biologics revenue, reaching approximately $1.35 billion to $1.80 billion. This growth is primarily fueled by a 60%-plus expansion attributed to Sarepta, translating into an estimated total revenue of nearly $700 million from the collaboration during the fiscal year, representing a substantial increase from the approximately $425 million generated ...