Wegovy-Maker Novo Nordisk to Spend More Than $2 Billion Boosting Production in France

By Elena Vardon

Pharmaceutical giant Novo Nordisk said it will invest more than 16 billion Danish kroner ($2.34 billion) in its French production site as it seeks to meet rising demand for its blockbuster obesity and diabetes treatments.

The Danish company, which makes the Wegovy obesity drug and diabetes drug Ozempic, said Thursday that the expansion of its facility in Chartres, southwest of Paris, will more than double the size of the site and is expected to create more than 500 new jobs. Construction, which has already started and will employ up to 2,000 external workers, is set to complete between 2026 and 2028, it said.

The site was set up in 1961 and currently employs around 1,600 people, Novo Nordisk said.

The group said earlier this month that it will invest more than $6 billion to boost production capacity, most of which will be dedicated to manufacturing active pharmaceutical ingredients used to treat diabetes and obesity.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

November 23, 2023 13:41 ET (18:41 GMT)

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