Weight-loss drug maker Novo Nordisk invests $6 billion to boost output. The Danish production plant of Novo Nordisk (NOVOb.CO) will receive investments exceeding 42 billion crowns ($6 billion) in the upcoming years to accommodate the increasing demand for the weight-loss therapy Wegovy worldwide.
The company said in a statement that the expansion at its Kalundborg site would make it possible to make more packaging, other parts of its value chain, and active pharmaceutical ingredients (API). This will include lifting capacity for GLP-1 products, including semaglutide, the Wegovy API, and the Ozempic diabetic therapy the firm offers.
Novo has said that all of their semaglutide is made in Denmark. Head of Product Supply, Quality, and IT at Novo, Henrik Wulff, remarked, “Our continued investment in global capacity demonstrates the belief we have in our current and future product portfolio.”
According to a representative for Novo, the most valuable company in Europe by market capitalization, the investment is the largest one a private company has ever made in Denmark.
The investment was part of a capital expenditure plan outlined in February for 25 billion crowns. The construction projects must be finished between the end of 2025 and 2029. The share price of Novo Nordisk increased, up 0.8% as of 09:10 GMT, outpacing a 0.6% decline in the European stock market as a whole (STOXX).
