Novo Nordisk's $1.09 Billion Investment Boosts Brazil's Pharma Scene

Novo Nordisk is investing 6.4 billion reais in Brazil to enhance their manufacturing of drugs like Ozempic. The expansion in Minas Gerais will increase production for obesity and diabetes treatments, highlighting Brazil's strategic importance. Operations are slated to begin in 2028 amidst growing competition in the GLP-1 market.

Novo Nordisk announced a substantial investment of 6.4 billion reais ($1.09 billion) to expand its production facilities in Brazil, specifically in the state of Minas Gerais. This move aims to boost the manufacturing capacity for injectable drugs targeting obesity, diabetes, and other chronic diseases.

The company emphasized Brazil's strategic importance, with CEO Lars Fruergaard Jorgensen stating the country's critical role in achieving Novo Nordisk's goals. Brazil is one of the top five markets for the Danish pharmaceutical giant, which also exports to over 70 countries.

The new facility, spanning 74,000 square meters, is expected to commence operations in 2028. The investment signifies Novo Nordisk's commitment to increasing production significantly, amid plans by other Brazilian companies like Hypera to enter the GLP-1 market with generic drugs.

(With inputs from agencies.)