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Novo Nordisk Invests €2.1 Billion in Its French Plant

Novo Nordisk plans a €2.1 billion investment to strengthen its presence in France’s industrial sector, according to French President. The biotech company aims to expand the centre area in Chartres, near Paris, expecting completion in 2028. The move, part of Novo Nordisk’s strategy since FDA approval of obesity solution Wegovy in July 2021, aligns with the rising demand for the drug.



Novo Nordisk

Novo Nordisk sets its sights on France. French President Emmanuel Macron has announced that the biotech company will invest €2.1 billion to boost its activity within the country’s industrial sector. Although not all the details of the operation have been revealed, it is expected that the new office will be based in Chartres, west of Paris, where the firm already has a team of more than 1,600 people.

The project will double the surface area of ​​the center, reaching 230,000 square meters. The works are already underway and the intervention is expected to be completed in 2028. With the expansion of this plant, which began operating in 1961, the Danish company expects to exceed 2,000 employees.

Demand for Novo Nordisk’s solution against obesity has continued to increase in recent years, since the United States Food and Drug Administration (FDA) approved the marketing of Wegovy in the United States . in July 2021. Over the past few months, it has launched its drug in Norway, Germany, the United Kingdom, and Iceland.

Read more about Novo Nordisk and its plans to invest in a French plant, and find the most important financial news of the day with the Born2Invest mobile app.

With this investment, the Novo Nordisk project will allow the center’s surface area to double, reaching 230,000 square meters

Two weeks ago, Novo Nordisk announced that it would invest more than 42 million Danish crowns (€5.6 billion) in expanding its facilities in Kalundborg, Denmark, to meet the high demands for its treatments against obesity (Wegovy) and against diabetes (Ozempic). In fact, in the last two years, the Danish pharmaceutical company has announced production investments in Denmark worth forty million Danish crowns (more than €5.3 billion), incorporating around 1,100 employees in production.

Thanks to increases in Wegovy sales,  Novo Nordisk recorded a net profit of 61,720 million Danish crowns (€8.27 billion) in the first nine months of 2023, which materialized in an increase of 47% compared to the same period in 2022. Regarding the figure for its solution against obesity, the value multiplied by six until the third quarter of the year, totaling 21,729 million Danish crowns (€2.91 billion).

Novo Nordisk’s other major solution, Saxenda, brought in 8,674 million Danish crowns (€1.16 billion) until September, 14% more than in the same months of 2022. With all this, total net sales for the third quarter amounted to 166,398 million Danish crowns (€22.3 billion). Sales of products aimed at diabetes also had a great weight in this figure, which increased by 21%, up to 123,403 million Danish crowns (€16.53 billion).


(Featured image by pierre9x6 via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Michael Jermaine Cards is a business executive and a financial journalist, with a focus on IT, innovation and transportation, as well as crypto and AI. He writes about robotics, automation, deep learning, multimodal transit, among others. He updates his readers on the latest market developments, tech and CBD stocks, and even the commodities industry. He does management consulting parallel to his writing, and has been based in Singapore for the past 15 years.