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Novo Nordisk to invest $158 million in insulin plant in Brazil

10/04/2024

Less than a minute

2024.10.04 15:01

SAO PAULO (Reuters) – Danish drugmaker Novo Nordisk (NYSE:) will invest 864 million reais ($158.2 million) to revamp a plant in Brazil responsible for pumping out a quarter of its insulin production globally, the firm said on Friday.

The funds will overhaul the Montes Claros factory, in the southeastern state of Minas Gerais, and implement sustainable projects there, Novo Nordisk said in a statement.

© Reuters. FILE PHOTO: A view shows the logo of Novo Nordisk at the company's office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024. REUTERS/Tom Little/File Photo

The maker of Ozempic and Wegovy, which have exploded in popularity for their use as weight-loss drugs, made the announcement public as Brazilian President Luiz Inacio Lula da Silva met earlier in the day with Queen Mary Donaldson of Denmark, the Brazilian government said in a statement.

($1 = 5.4627 reais)

10/04/2024

Less than a minute