Novo Nordisk Pharmatech unit to build $220 mln plant in Denmark, ET HealthWorld

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Novo Nordisk Pharmatech unit to build $220 mln plant in Denmark, ET HealthWorld

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Oslo: Novo Nordisk’s Pharmatech unit will build a 1.5 billion Danish crowns ($220.83 million) plant in Denmark to meet significantly higher demand for the production of medicines to ****** chronic *********, the company said on Friday.

The facility, which will produce raw materials for Novo Nordisk’s drugs, is expected to be ready for operation in 2027 and will create around 50 new jobs, the Pharmatech unit said in a statement.

It did not specify which raw materials it would produce.

Novo Nordisk, maker of the popular weight-loss treatment Wegovy as well as Ozempic, a diabetes ***** with the same active ingredient, has grown sharply in recent years to become Europe’s most valuable company by market capitalisation.

($1 = 6.7925 Danish crowns) (Reporting by Terje Solsvik; Editing by Jamie Freed)

• Published On Aug 16, 2024 at 05:38 PM IST

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