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Novo Nordisk to pour USD73m in expansion of US manufacturing facility.

M2 PHARMA-October 4, 2010-Novo Nordisk to pour USD73m in expansion of US manufacturing facility(C)2010 M2 COMMUNICATIONS

4 October 2010 - Danish Novo Nordisk (CPH: NOVO B) said today it will invest USD73m (EUR53.3m) for the expansion of its Clayton, NC manufacturing facility to accommodate increased production capacity for the company's insulin delivery devices.

The initial expansion will create 205 new jobs, including 85 in the Novo Nordisk Clayton facility, which currently produces a number of products, including the Levemir FlexPen (insulin detemir (rDNA origin) injection) and other products for the entire diabetes portfolio.

Novo Nordisk said it currently has more than 420 employees in Clayton who oversee the full production process for six different diabetes treatment products, from formulation through packaging and distribution. The expansion will include the addition of two final assembly lines, two packing lines and building refurbishment.

The Clayton expansion project is approved to receive incentive support from a Job Development Investment Grant and a One North Carolina Fund grant. The company's final decision is contingent upon final approval of local government incentives by Johnston County and Buncombe County, it said.

(USD1 = EUR0.729)

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Publication:M2 Pharma
Date:Oct 4, 2010
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