Novo Nordisk to invest $6 bln in Denmark expansions, Health News, ET HealthWorld

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Oslo: Novo Nordisk said on Friday it will invest more than 42 billion Danish crowns ($6 billion) from 2023 onwards to expand its manufacturing facilities in Denmark for the current and future product portfolio within serious chronic diseases.

The investment will create additional capacity across the company’s global value chain from manufacturing of active pharmaceutical ingredients (API) to packaging, with the vast majority invested in API capacity, the company said.

“The investment, which includes GLP-1 products, will increase Novo Nordisk’s ability to meet future market demands,” it said in a statement.

GLP-1 products are key ingredients in Novo’s hugely popular weight-loss drug Wegovy as well as in its Ozempic diabetes treatment.

A portion of the investment was included in a 25 billion crowns capital expenditure announced in February, Novo said.

The construction projects will be finalised gradually from the end of 2025 through 2029. ($1 = 6.9904 Danish crowns)

  • Published On Nov 10, 2023 at 01:48 PM IST

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