Catalent delays quarterly filing for internal controls assessment

Catalent has determined that it is unable to file, without unreasonable effort or expense, its quarterly report for the fiscal quarter ended September 30 by the prescribed filing due date of November 9 and does not expect to file the form on or before the expiration of the five calendar day extension period. The company disclosed last night that it requires additional time to complete its procedures related to management’s assessment of the measurement and timing of a non-cash goodwill impairment of approximately $700M. Catalent needs additional time to complete its procedures related to management’s assessment of the effectiveness of its internal controls over financial reporting.