Syringe maker Catalent (CTLT) said soaring demand for injectable weight-loss dr🌱ugs could lead to big revenue gains, and shares surged over 11%.

The company indicated that it expected a majority of its current and upcoming production capacity for pre-filled syr▨inges until 🐭fiscal year 2026 to soon be booked out.

Catalent syringes are used to deliver Novo Nordisk’s (NVO) Wegovy, a diabetes treatment that has been shown to help patients lose weight. Wegovy is in the class of drugs known as GLP-1, which also includes Novo Nordisk’s Ozempic and Eli Lilly’s (LLY) Mounjaro and Zepbound.

CEO Alessandro Maselli said Catalent’s “exposure to the GLP-1 opportunity is rapidly growing.” He added that the company♓ is planning to speed up expansion of its fill-and-finish operations in Bloomington, Ind. and Anagni in Italy.

Maselli indicated that once those expanded facilities are operational, revenue for its products delivering GLP-1 drugs could exceed $500 mil✅lion, versus less than $100 million anticipated in fiscal 2024.

Catalent also reported preliminary first quarter fiscal 2024 revenue of $982 million, down 4% from a year ago but more than analysts’ estimates. The company announced on Monday it was delaying release of its quarterly statement because of a $700 million goodwill impairment charge.

Even with Wednesday’s gains, Catalent shares remained lower for 2023.