Novo Nordisk aims further expansion in Russia

1 April 2015

Danish diabetes care giant Novo Nordisk (NOV: N) plans to continue its expansion in the Russian pharmaceutical market during the next several years, despite the current unfavorable business environment in the country, according to Lars Rebien Sorensen, chief executive and president of Novo Nordisk.

According to Mr Sorensen, so far, the company has already invested about $100 million in its Russian business and plans to continue to increase localization of its local production, reports The Pharma Letter’s local correspondent.

Russia now accounts for just 1% of Novo Nordisk’s insulin production

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