Novo Nordisk Invests $6 Billion in API Production Expansion to Meet High Demand
November 10, 2023
Novo Nordisk is investing over $6 billion to expand Denmark’s active pharmaceutical ingredients (API) production capacity. This move is primarily due to the soaring demand for its weight loss product, Wegovy. The new facility will measure 170,000 sqm, and the creation process between 2025 and 2029 is expected to employ about 3,000 people, eventually creating around 800 permanent jobs. The company spent about $5.7 billion in production investments in Denmark, creating an additional 1,100 jobs. Novo continues to focus on meeting the high market demand for its products, including Wegovy and drugs marketed for type 2 diabetes.
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[Source: Endpoints, November 10th, 2023]
