Novo Nordisk is investing $4.1bn to expand its US manufacturing and boost production of its blockbuster weight-loss drugs to meet surging demand.
The Danish pharma group said on Monday that the investment will fund a new 1.4mn sq ft manufacturing plant on a site near Raleigh, North Carolina, doubling its size. The extra capacity will come online between 2027 and 2029.
The investment comes as Novo Nordisk competes with rival Eli Lilly for a larger share of the market for a new class of diabetes and weight loss drugs, known as GLP-1s, which is already set to generate $42bn in sales this year and is projected to reach as much as $130bn by 2030.
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