Eyeing Wegovy nod, Novo plans $550 million boost to China facility
Capping a series of investments designed to increase its manufacturing footprint, Novo Nordisk (NOV: N) has said it will spend over half a billion dollars to up output in China.
In a local press release announcing the decision, Novo Nordisk said the money would enable it to utilize cutting edge isolator technology, optimizing sterility assurance in pharmaceutical production.
In the wake of skyrocketing demand for its GLP-1 products, notably the obesity med Wegovy (semaglutide), Novo Nordisk has made multiple investments of this kind in both existing and new sites.
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