Danish pharmaceutical firm Novo Nordisk A/S (NYSE:NVO) announced plans to invest approximately $1.20 billion (8.5 billion Danish kroner) to establish a new production facility in Odense, Denmark. The investment marks the first time in this century that Novo Nordisk breaks ground in Denmark by establishing a new production site.

The pharmaceutical company will establish a production facility in Odense to accommodate multiple product types within the rare disease area, such as haemophilia.

Novo’s latest investment comes just days after the U.S. FTC greenlit the highly contentious acquisition of Catalent, which analysts expect will help the pharma expand its production capacity.

By Anna Ringstrom and Maggie Fick STOCKHOLM/LONDON (Reuters) -Danish drugmaker Novo Nordisk will invest 8.5 billion crowns ($1.20 billion) in a new facility in Odense, Denmark, for the production of rare disease drugs,

Danish drugmaker Novo Nordisk will invest 8.5 billion crowns ($1.20 billion) in a new facility in Odense, Denmark, for the production of rare disease drugs, it said on Monday. The company said in a statement the site will include a warehouse as well as a factory.

Danish pharma giant Novo Nordisk will make a significant investment of approximately $1.2 billion to construct a new production facilit