STOCKHOLM (Reuters) – Danish drugmaker Novo Nordisk (NYSE:) will make investments 8.5 billion crowns ($1.20 billion) in a brand new facility in Odense, Denmark, for the manufacturing of uncommon illness medication, it mentioned on Monday.
Novo Nordisk, which has change into Europe’s Most worthy listed firm on the again of its vastly widespread weight-loss drug Wegovy, purchased the 200-acre web site in July, saying it could construct a brand new plant there, with out indicating for what kind of medication.
The corporate mentioned on Monday that the location will embody a warehouse in addition to a manufacturing unit.
“Designed to be modular and flexible, it will accommodate multiple product types within rare disease, such as haemophilia,” it mentioned in a press release.
The power can be Novo Nordisk’s first in Odense, and its first new manufacturing unit in Denmark this century, it mentioned.
Development work has began and is scheduled to be accomplished in 2027, when the ability is anticipated to create 400 everlasting jobs. Throughout building, as much as 1,000 exterior workers can be working on-site, the corporate mentioned.
Novo Nordisk has introduced billions of {dollars} value of investments this yr, together with $4.1 billion to construct a U.S. facility to fill injection pens for Wegovy and diabetes drug Ozempic.
Shares within the firm have been up 2% in early commerce, taking a year-to-date rise to 10%.
($1 = 7.0926 Danish crowns)
