Danish pharmaceutical company Novo Nordisk said Monday that it plans to invest 15.9 billion Danish kroner ($2.29 billion) to expand an existing active pharmaceutical ingredient production facility in Denmark for its future portfolio within serious chronic diseases.
The investment in Hillerod, Denmark, will boost production capacity, increase Novo Nordisk’s ability to meet future market demand and be a key enabler for future clinical late-phase products, the company said.
Construction is under way and the facility is expected to start producing active pharmaceutical ingredients by early 2029, Novo Nordisk said.
Novo Nordisk said a portion of the investment is included in the DKK25 billion capital-expenditure plans announced earlier this year, with the remaining amount invested over the next six years.