Novo Nordisk will invest more than $2 billion to increase the manufacture of obesity drugs in France

Novo Nordisk has declared that it will invest $2.3 billion to increase production in France.

The move will anticipate future demand, according to Novo Nordisk, and is expected to increase capacity, quality control lab space, aseptic and final manufacturing processes at the pharmaceutical giant's Chartres location southwest of Paris, where it manufactures diabetic and weight-loss medications.

Product executive vice president Henrik Wulff stated, "Our continued investments in our manufacturing sites across the globe demonstrate the belief we have in our current and future product portfolio."

Thanks in great part to its diabetes and obesity therapies, the Danish corporation Novo Nordisk has a market capitalization of over US$460 billion, making it the biggest company in Europe.

According to a statement from Novo Nordisk, the expansion would result in the creation of about 500 jobs, and construction is anticipated to be finished in 2026 or 2028.

(Sources: investing.com, proactiveinvestors.co.uk)