Posted on 2 months ago by Laurentina Kennedy
Danish weight loss and diabetes specialist is looking to develop a tablet form of its blockbuster obesity treatments
Weight loss and diabetes drug company Novo Nordisk has bought a drug manufacturing plant in Athlone as it looks to expand production to meet worldwide demand.
The Danish group has paid $92.5 million (€85 million) to acquire the former Elan Drug Technologies plant from Irish-headquartered pharma group Alkermes in a deal that is expected to close in the middle of next year.
Alkermes said the sale of the business would offer around 400 staff at the plant “an exciting opportunity for growth” while “aligning the group’s infrastructure and cost structure with the projected needs of the business” as it focuses on becoming a “pure-play neuroscience company”.
Novo Nordisk has been struggling to increase the supply of its Ozempic and Wegovy treatments for obesity and diabetes. In the past month alone, the company has announced an investment of €7.8 billion in two of its plants in Denmark and France.