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Novo Nordisk nyse Nvo to Invest 8 Million in Upgrading Insulin Plant in Brazil

Novo Nordisk (NYSE: NVO) to Invest $158 Million in Upgrading Insulin Plant in Brazil

SAO PAULO – Novo Nordisk (NYSE: NVO), a Danish drugmaker, will invest 864 million reais ($158.2 million) to revamp a plant in Brazil responsible for pumping out a quarter of its insulin production globally, the firm said on Friday.

The funds will overhaul the Montes Claros factory, in the southeastern state of Minas Gerais, and implement sustainable projects there, Novo Nordisk said in a statement.

The maker of Ozempic and Wegovy, which have exploded in popularity for their use as weight-loss drugs, made the announcement public as Brazilian President Luiz Inacio Lula da Silva met earlier in the day with Queen Mary Donaldson of Denmark, the Brazilian government said in a statement.

($1 = 5.4627 reais)

(Source: ReutersReuters)

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Jennifer Tacker
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies.