Novo Nordisk commits to building FlexPen production plant in Iran
The Iran subsidiary of Danish diabetes care giant Novo Nordisk (NOV: N) has signed a Memorandum of Understanding with the Iranian Food and Drug Administration committing Novo Nordisk to build a local manufacturing plant for FlexPen prefilled devices in Iran.
The project is expected to last five years and represents a Novo Nordisk investment of around 70 million euros ($80 million). The production will function in compliance with Good Manufacturing Practices (GMP), which will ensure the quality and reliability of the products.
"We are happy to commit to this manufacturing facility in Iran. It signals our long-term commitment to Iran, a country where close to 5 million people have diabetes according to the International Diabetes Federation. This investment will ensure availability of our modern insulins and will bring us a step closer to the people who rely on our products", said Ole Moelskov Bech, corporate vice president of Novo Nordisk Business Area Near East.
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