Weight loss drug developer Novo Nordisk (NYSE:NVO) has announced US$2.3 billion will be spent on ramping up production in France.
Set to boost capacity, quality control lab space, aseptic and finished production processes at the drug giant’s Chartres site southwest of Paris, where it makes weight-loss and diabetes drugs, the move would preempt future demand, Novo Nordisk (NYSE:NVO) said.
“Our continued investments in our manufacturing sites across the globe demonstrate the belief we have in our current and future product portfolio,” product executive vice president Henrik Wulff said.
Danish firm Novo Nordisk (NYSE:NVO) is Europe’s largest company with a market capitalisation of around US$460 billion, largely thanks to its diabetes and obesity treatments.
Some 500 jobs will be created from the expansion, Novo Nordisk said in a statement, with work on this expected to be completed between 2026 and 2028.
“By maximising the skills and infrastructure we already have on the site, we are expanding our capacity in an efficient way,” corporate vice president Lone Charlotte Larsen added.