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Novo Nordisk Invests $400 Million in Chinese Insulin Production Plant

Posted on: Friday, 7 November 2008, 12:00 CST

Denmark-based healthcare company Novo Nordisk has announced a major investment of around $400 million in a new insulin production plant in Tianjin, China. The plant has been designated Novo Nordisk's primary production base in the Asia Pacific region and will supply both China and export markets.

The investment is expected to create close to 500 new jobs in Tianjin. It is said to be one of the largest investments in Novo Nordisk's history, and the largest single investment outside Denmark.

Novo Nordisk's first plant in Tianjin was built in 1996 and expanded twice in 2002 and 2005; the new plant will be built on a new 88,000 sq meters site next to the existing plant. It is expected to be operational in 2012. Major Novo Nordisk insulin products such as NovoMix 30 and NovoRapid will be formulated and filled in the plant, the company said.

Ronald Frank Christie, president of Novo Nordisk China, said: "The new plant will help meet the increasing demand for Novo Nordisk's insulin products in Asia. With the new plant and our R&D center in Beijing, we will have an even stronger platform for changing diabetes in China."

Lars Arnoldsen, Novo Nordisk's project vice president, who will manage the construction of the new plant, said: "We are also planning to formulate and fill Levemir, Novo Nordisk's long-acting modern insulin here in the new plant."

Source: Datamonitor

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