Novo Nordisk (NYSE: NVO), a Danish biopharmaceutical company, has announced plans to invest USD 4.1 billion in expanding its manufacturing capacity in the United States. This strategic move is aimed at bolstering the company’s ability to supply obesity medications along with other treatments for chronic diseases. The decision suggests that previous plans to construct a new facility in Ireland have been shelved.
Characterized as one of Novo Nordisk’s most significant investments in its history, the funds will be directed towards the company’s existing facility in Clayton, North Carolina. The expansion will include the addition of 1.4 million square feet of production space dedicated to aseptic manufacturing and finished production processes, as well as the creation of 1,000 new jobs.
This initiative is part of a broader USD 6.8 billion allocation for production expansion in 2024. Novo Nordisk and Eli Lilly are in a race to scale up their manufacturing capacities to meet the surging global demand for their new lineup of GLP-1 targeted obesity drugs.- Flcube.com
