Novo Nordisk investing $117.4M in manufacturing site in Denmark
Novo Nordisk’s site in Kalundborg, Denmark, already manufactures about half of the world’s insulin, but with a DKK 800 million makeover the site will be able to produce even more insulin and other products.
The Danish drugmaker today said it will invest about $117.4 million in upgrading and expanding the site, which already encompasses 1.2 million square meters. It expects to complete the work in 2022.
The company says the work can be handled by the 3,000-person workforce already there.
"Since the turn of the millennium alone, we have invested more than DKK 16 billion ($2.4 billion) in these facilities, which are a cornerstone of our global production network,” Michael Hallgren, senior vice president for production in Kalundborg, said in a statement.
The APIs for two of Norvo's most promising drugs are made at the site. The drugmaker reported that one of its new diabetes medicines, injectable Type 2 med Ozempic, generated $1.65 billion globally last year, more than a sixfold increase over the $264 million the year before.
Novo also is ramping up its sales effort behind its oral GLP-1 med Rybelsu, which is expected to see similar growth, given its ease of dosing. Novo is forecasting companywide sales growth of 3% to 6% at constant exchange rates as sales of new meds continue to grow.
Novo is preparing a plant in the U.S. to help with the rollout of Rybelsu. The drugmaker in August bought a plant in Treyburn, North Carolina, from financially flailing Purdue Pharma. The site is near an existing site in Clayton, North Carolina, as well as a very large API plant it is building there.
Feb 7, 2020