Novo Nordisk investing further $2.3 billion in API manufacturing expansion

12 June 2023

As Danish diabetes care giant Novo Nordisk (NOV: N) marks the 100th anniversary of its founding, the company today announced plans to invest 15.9 billion Danish kroner ($2.3 billion) starting in 2023 to expand an existing active pharmaceutical ingredient (API) production facility in Denmark for the future portfolio within serious chronic diseases.

The investment in Hillerød, Denmark will create additional production capacity and increase Novo Nordisk’s ability to meet future market demands and be a key enabler for Novo Nordisk to develop its future clinical late-phase product portfolio.

This adds to a 726 million euro expansion announced in November latest year, at which time Novo Nordisk also opened an API manufacturing site in Clayton, USA, which was the result of a $2 billion investment.

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