Novo Nordisk has agreed to acquire three manufacturing sites for $11bn, as the Danish drugmaker races to expand production of the weight loss drugs whose runaway success has sent the company’s valuation beyond $500bn.
The group last week reported record sales for 2023, driven by surging demand for its anti-obesity drugs Ozempic and Wegovy. However, Novo Nordisk warned that supply chain bottlenecks were hampering its ability to produce enough of the best-selling treatments.
The purchase of the three sites was part of a three-way transaction announced on Monday in which Novo Holdings, the Danish group’s controlling shareholder, agreed to buy US drug manufacturer Catalent for $16.5bn.
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