In order to accommodate the rapidly increasing demand for the Wegovy weight-loss medication worldwide, Novo Nordisk has announced that it will invest more than 42 billion crowns ($6 billion) in its Danish production facilities in the upcoming years.
The business said in a statement that the expansion at its Kalundborg location will increase capacity for producing active pharmaceutical ingredients (API) as well as across other elements of its value chain, such packaging.
This will cover the lifting capability of the company's Ozempic diabetes medicine as well as GLP-1 products including semaglutide, the Wegovy API, and others.
According to Novo, all of its semaglutide is made in Denmark.
"Our continued investment in global capacity demonstrates the belief we have in our current and future product portfolio," said Henrik Wulff, Novo's head of product supply, quality & IT.
According to a business spokeswoman, Novo's investment is the biggest made by a private sector company in Denmark. Novo is the most valuable corporation in Europe based on market capitalization.
A capital expenditure plan for 25 billion crowns was unveiled in February, which included a portion of the investment.
The completion dates of the construction projects range from the end of 2025 to 2029.
Novo Nordisk's share price has increased by 0.8%, outpacing a 0.6% decline in the European stock market as a whole.
(Source:www.investing.com)
The business said in a statement that the expansion at its Kalundborg location will increase capacity for producing active pharmaceutical ingredients (API) as well as across other elements of its value chain, such packaging.
This will cover the lifting capability of the company's Ozempic diabetes medicine as well as GLP-1 products including semaglutide, the Wegovy API, and others.
According to Novo, all of its semaglutide is made in Denmark.
"Our continued investment in global capacity demonstrates the belief we have in our current and future product portfolio," said Henrik Wulff, Novo's head of product supply, quality & IT.
According to a business spokeswoman, Novo's investment is the biggest made by a private sector company in Denmark. Novo is the most valuable corporation in Europe based on market capitalization.
A capital expenditure plan for 25 billion crowns was unveiled in February, which included a portion of the investment.
The completion dates of the construction projects range from the end of 2025 to 2029.
Novo Nordisk's share price has increased by 0.8%, outpacing a 0.6% decline in the European stock market as a whole.
(Source:www.investing.com)