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How will Novo Nordisk's Odense facility investment impact stock price by end of 2025?
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Story
Novo Nordisk Invests $1.2 Billion in Odense Facility for Rare Diseases
Dec 16, 2024, 07:35 AM
Novo Nordisk A/S, the Danish pharmaceutical giant known for its diabetes and weight-loss treatments like Ozempic and Wegovy, has announced a significant investment of $1.2 billion (8.5 billion Danish kroner) to establish a new production facility in Odense, Denmark. This marks the first time in this century that Novo Nordisk is building a new production site in Denmark. The facility, which will span over 40,000 square meters, is designed to be modular and flexible, accommodating multiple product types for rare diseases such as haemophilia. The investment aims to meet the growing global demand for Novo Nordisk's life-changing medicines. Construction is set to begin immediately, with completion expected by 2027, and the facility is projected to create 400 permanent jobs upon completion. This move comes shortly after Novo Nordisk received approval for its $11.7 billion acquisition of three Catalent facilities in the US, Italy, and Belgium, further expanding its production capabilities.
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