Novo Nordisk To Invest Over DKK5B To Add API Production Capacity To Danish Plant - Novo Nordisk (NYSE:NVO)

Novo Nordisk A/S NVO plans to invest DKK 5.4 billion to expand its existing facilities in Bagsvaerd, Denmark.
The plans also include constructing a new plant to extend the existing facilities.
Novo, the world's biggest producer of diabetes drugs, said the project is expected to be finalized in 2024 and create about 160 new jobs.
The investment would establish additional capacity in research and development for manufacturing of active pharmaceutical ingredients (API), the main biologically active components of medicines, to supply its global clinical trials.
Related: Novo Nordisk Raises FY22 Earnings Outlook On Robust Ozempic Sales.
The expansion will provide capacity for developing Novo Nordisk's future oral and injectable product portfolio.
"This investment in expanding our clinical API capacity in Bagsværd is an important step to ensure the continuous progress of our development pipeline. Increasing our API capacity in R&D will be a key enabler in bringing new innovations to the market and meet the future demand of our patients", said Jesper Bøving, senior vice president of CMC Development, Novo Nordisk.
Price Action: NVO shares are trading at $113.41 on the last check Tuesday.