STOCKHOLM (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, it said on Monday. Novo Nordisk,

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

Novo Nordisk announced plans to invest 8.5 billion Danish kroner to establish a completely 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.