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 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.