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Novo Nordisk plans €432m investment in Irish GLP-1 plant
Novo Nordisk's €432 million investment will expand Athlone's capacity to produce oral GLP-1 therapies like Wegovy, supporting markets outside the US and creating 600 construction jobs.
- On Monday, Novo Nordisk announced a DKK 3.2 billion euro investment in Athlone to build a Wegovy tablet manufacturing facility.
- With Eli Lilly pressuring the market, Novo Nordisk has filed the Wegovy pill for approval in the EU and UK, with decisions due in the coming months.
- Construction has already started and the Monksland site covers about 45 acres, set to create up to 600 construction jobs while employing around 260 people.
- Minister Peter Burke said the investment is a vote of confidence in Athlone and the Midlands and "will help drive innovation, create highly skilled jobs and further strengthen Ireland's pharmaceutical ecosystem."
- With approvals due in the coming months, analysts say Novo's Athlone investment is a strategic bet on oral Wegovy amid recent job cuts at the Monksland facility.
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Novo Nordisk A/S will invest 432 million euros (507 million dollars) in the modernization of an Irish factory to produce its successful Wegovy weight loss medicine for markets outside the United States, as reported this Monday in the Irish Times.
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Total News Sources14
Leaning Left4Leaning Right0Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 44%
C 56%
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