By Dominic Chopping


Danish pharmaceutical company Novo Nordisk AS Tuesday said it plans to invest 5.4 billion Danish kroner ($743.6 million) in expanding its facilities in Bagsvaerd, Denmark, which will include construction of a new plant.

The company said the investment will establish additional capacity in research and development for manufacturing of active pharmaceutical ingredients to supply its global clinical trials.

"This investment in expanding our clinical API capacity in Bagsvaerd is an important step to ensure the continuous progress of our development pipeline," said Jesper Boving, senior vice president of chemistry, manufacturing, and controls development at Novo Nordisk.

"Increasing our API capacity in R&D will be a key enabler in bringing new innovations to the market."

The investment project is expected to be finalised in 2024 and will create around 160 new jobs.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

11-22-22 0159ET