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Novo Nordisk (NVO.US) invests over 400 million euros to upgrade Ireland factory, aiming to boost global Wegovy production capacity
According to local media reports on Monday, Novo Nordisk (NVO.US) will invest €432 million ($507 million) to upgrade a factory in Ireland to produce its best-selling weight loss drug Wegovy for markets outside the United States. The facility is expected to provide significant additional capacity for current and future obesity and diabetes medications. A company spokesperson confirmed the investment amount.
Previously, it was reported that Novo Nordisk plans to expand its factory in Aslone, central Ireland. Wegovy is a key product for Novo Nordisk to stay competitive in the once-dominant weight loss market.
Eli Lilly (LLY.US) also produces the active ingredient for its weight loss drug in Ireland and announced an $800 million investment to expand its Cork factory in 2024.
Media reports indicate that about two years ago, Novo Nordisk abandoned plans to build a factory near Dublin and cut jobs at the Aslone plant in September last year.