Novo Nordisk Invests Over $6 Billion to Boost Production Capacity
10 Novembre 2023 - 8:24AM
Dow Jones News
By Dominic Chopping
Novo Nordisk will invest over 42 billion Danish kroner ($6.01
billion) to boost manufacturing capacity in Kalundborg, Denmark, it
said Friday.
Most of the new capacity will be dedicated to manufacturing
active pharmaceutical ingredients, including for its blockbuster
GLP-1 products for treating diabetes and obesity, which will
increase the company's ability to meet future market demands.
Novo Nordisk has been struggling to meet surging demand for its
GLP-1 drugs and has been forced to limit supply of lower-strength
doses of its Wegovy weight-loss medicine in the U.S. as it seeks to
safeguard supplies for current patients.
With the limited supply of Wegovy, obesity patients have been
turning to Novo Nordisk's Ozempic diabetes drug as an alternative
because both medications share the same active ingredient, which
has also led to Ozempic shortages among patients who use it for
treating their diabetes.
Construction of the new production facilities will be finalised
gradually from the end of 2025 through 2029, it said.
Over the past two years, Novo Nordisk has announced DKK40
billion in production investments in Denmark. It has also added
around 1,100 employees in production related to these investments.
Earlier this year, it confirmed that it is awaiting approvals for a
new production site on Funen, Denmark.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 10, 2023 02:09 ET (07:09 GMT)
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