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

Ozempic maker Novo Nordisk A/S is investing 8.5 billion kroner ($1.2 billion) to build a new major factory in Denmark to help meet growing demand for its blockbuster drugs.