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.

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.

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.

Danish pharmaceutical giant Novo Nordisk, maker of diabetes and weight-loss treatments Ozempic and Wegovy, said Monday it was investing 8.5 billion kroner ($1.2 billion) to build a new factory in Denmark to produce drugs against rare diseases.

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

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.