Weight-loss drug maker Novo Nordisk invests $6 bln to boost output

Weight-loss drug maker Novo Nordisk invests $6 bln to boost output

Novo Nordisk, a Danish drugmaker, announced on Friday that it will invest over 42 billion crowns ($6 billion) in its Danish production facility in the coming years. The purpose of this investment is to meet the increasing global demand for the Wegovy weight-loss treatment. The company stated that the expansion at its Kalundborg site will not only enhance the capacity for manufacturing active pharmaceutical ingredients (API) but also improve other aspects of its value chain, including packaging.

The investment will specifically focus on increasing the capacity for GLP-1 products such as semaglutide, which is the API in Wegovy, as well as the company’s Ozempic diabetes treatment. Novo Nordisk has emphasized that all of its semaglutide is produced in Denmark. Henrik Wulff, Novo’s head of product supply, quality & IT, expressed confidence in the company’s current and future product portfolio, stating that the continued investment in global capacity reflects this belief.

This investment by Novo Nordisk, Europe’s most valuable company in terms of market capitalization, is the largest made by a private sector company in Denmark. According to a company spokesperson, a portion of this investment was already included in a 25 billion crowns capital expenditure plan announced in February. The construction projects are expected to be completed between the end of 2025 and 2029.

As a result of this news, Novo Nordisk’s share price rose by 0.8% as of 0910 GMT, outperforming the wider European stock market, which experienced a 0.6% drop. It is worth noting that the conversion rate is $1 = 6.9904 Danish crowns.

In conclusion, Novo Nordisk’s significant investment in its Danish production facility demonstrates its commitment to meeting the growing demand for the Wegovy weight-loss treatment. The company aims to enhance its manufacturing capacity for semaglutide and other products, reaffirming its confidence in its current and future product portfolio. This investment is the largest made by a private sector company in Denmark and is expected to be completed by 2029. The positive market response is reflected in the increase in Novo Nordisk’s share price.

About News Team

News TeamHi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    2 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
    Women’s Demand for Shapewear – the big Trends
    3 years ago
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    4 weeks ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    4 weeks ago
    Dubai faces down airline rivals with $50 bln jet orders
    4 weeks ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    4 weeks ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    4 weeks ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    4 weeks ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    4 weeks ago

Follow @rushhourdaily: