The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Novo Nordisk to build $4.1 billion North Carolina facility to boost output of Wegovy, Ozempic

by admin June 27, 2024
June 27, 2024
Novo Nordisk to build $4.1 billion North Carolina facility to boost output of Wegovy, Ozempic

Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies. 

Demand for Wegovy and Ozempic has outstripped supply over the last year, spurring intermittent shortages in the U.S. and forcing the Danish drugmaker to invest heavily to increase its manufacturing footprint. The company said it plans to invest $6.8 billion in production this year, up from roughly $4 billion last year. 

The new manufacturing facility will be responsible for filling and packaging syringes and injection pens for the drugs, according to a company release. 

An Ozempic injection pen.David J. Phillip / AP

“This investment really gives us the opportunity to serve more patients,” Doug Langa, Novo Nordisk’s head of North American operations, said in an interview. “Importantly, I think the other key message here is it’s further investment in the U.S., so I think we’re very proud of that.”

Construction of the 1.4 million-square-foot facility has begun and is expected to be completed between 2027 and 2029, Novo Nordisk said. The company said 1,000 workers will staff the site, adding to the 2,500 employees already working at its three existing manufacturing plants in North Carolina. 

That includes two sites that are already operational in Clayton — one responsible for fill and finish work and another dedicated to producing the active ingredient in the company’s diabetes pill Rybelsus. The company also has a site in Durham, North Carolina, responsible for manufacturing and packaging oral drugs and another facility in West Lebanon, New Hampshire.

Twelve other production sites are located in Denmark, France, China, Japan, Algeria, Brazil, Iran and Russia, according to a Novo Nordisk spokesperson.

Three lower doses of Wegovy are currently in shortage in the U.S. due to high demand, according to a Food and Drug Administration database. Patients start Wegovy with lower doses and gradually increase the amount every four weeks until they reach a target dosage.

Wegovy is an injectable prescription weight loss medicine. Michael Siluk / Universal Images Group via Getty Images

Wegovy and Ozempic are part of a class of medications called GLP-1s that mimic hormones produced in the gut to suppress a person’s appetite and regulate their blood sugar.

Around 35,000 U.S. patients on average start Wegovy each week today, up from roughly 27,000 in May, a Novo Nordisk spokesperson said in a statement. Still, Langa said the company is being “very purposeful” about how many lower doses it is releasing into the U.S. market to ensure patients who have already started taking Wegovy can continue treatment with higher doses.

Rival drugmaker Eli Lilly has also committed billions of dollars to increase manufacturing capacity for its popular GLP-1s for weight loss and diabetes, Zepbound and Mounjaro. The company similarly has several production plants in North Carolina. 

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Maker of Hershey’s, Jeni’s, and Friendly’s ice cream products issues recall over Listeria
next post
Treasury Secretary Yellen announces $100M affordable housing fund as shelter costs weigh on Biden

Related Posts

Mortgage rates plunge to the lowest level in...

August 6, 2024

AI drive-thru ordering is on the rise —...

July 4, 2024

Egg prices are falling, with a dozen now...

March 15, 2025

Nvidia CEO says he was wrong about timeline...

March 22, 2025

Netflix shares soar as company reports surging revenue,...

January 23, 2025

Plummeting stock, boycotts and flagging sales: What’s fueling turmoil for Tesla?

March 18, 2025

What’s Turo? The ‘Airbnb of cars’ was used...

January 4, 2025

Netflix ad-supported tier has 70 million monthly users...

November 13, 2024

Southwest to get rid of open seating, offer...

July 27, 2024

Delta says the Olympics will cost it $100...

July 13, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Larry Williams on the Fed, Interest Rates & Markets! What’s Next?

      June 1, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      June 1, 2025
    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      June 1, 2025
    • Michelle Obama facing backlash over claim about women’s reproductive health

      June 1, 2025
    • Hamas agrees to release 10 more hostages

      June 1, 2025
    • ROBERT MAGINNIS: 9 signs Beijing’s Taiwan invasion may be imminent

      June 1, 2025

    Categories

    • Business (1,220)
    • Politics (3,603)
    • Stocks (1,377)
    • Uncategorized (45)
    • World News (1,213)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved