NVO - Wegovy Ozempic Maker Novo Nordisk To Invest $4.1B In US Manufacturing Doubling Plant Size To Meet Surging Demand For Weight Loss Drugs | Benzinga
Novo Nordisk A/S (NYSE:NVO) is set to invest $4.1 billion in expanding its U.S. manufacturing operations to meet the increasing demand for its weight loss drugs.
What Happened: The Danish pharmaceutical company plans to build a new 1.4 million square foot manufacturing plant near Raleigh, North Carolina, doubling its size, the company said in a release. The additional capacity is expected to be operational between 2027 and 2029.
The investment is a response to the growing market for GLP-1s, a new class of diabetes and weight loss drugs. This market is projected to reach $130 billion by 2030, according to the Financial Times report. The expansion will also address recent shortages of Novo Nordisk’s Wegovy weight loss drug and Ozempic ...