COPENHAGEN (dpa-AFX) - Danish biopharmaceutical major Novo Nordisk A/S (NVO) announced on Friday that it is planning to invest more than 42 billion Danish kroner from 2023 onwards towards the expansion of its manufacturing facilities in Kalundborg, Denmark.
The company anticipates the investment to increase Novo Nordisk's ability to meet future market demands.
The investment is also expected to create additional capacity across the global value chain from manufacturing of active pharmaceutical ingredients or API to packaging. The new API facility will be a multi-product facility.
The construction projects will be finalized from the end of 2025 through 2029 gradually and are expected to add 800 new jobs in the constructed facilities. During the construction, up to 3000 external employees will be employed as well.
On Thursday, Novo Nordisk shares closed at $100.03, down 1.70% on the New York Stock Exchange.
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