Danish pharmaceutical giant Novo Nordisk is striving to increase capacity for its blockbuster medications, Ozempic and Wegovy. To ramp up production, Novo Nordisk will focus on hiring outside of Denmark, leading to a reduction in recruitment efforts domestically while emphasizing expansion in key markets such as China, the USA, and France, according to Bloomberg.
Novo Nordisk has fully tapped its local workforce in Denmark, particularly in connection with multi-billion dollar factory expansions in Kalundborg and Hillerød Ekstra Bladet writes.
However, Novo Nordisk plans for continued growth in Denmark by establishing a new factory in Odense. At the end of last year, Novo Nordisk employed approximately 28,700 individuals in Denmark, accounting for just under half of its global workforce.
This strategic focus on China highlights the increasing significance of the Asian market in Novo’s global strategy. Earlier this year, Novo announced a substantial investment of around US$ 556 million to expand its flagship factory in Tianjin, which it expects to complete by 2027. This year also marks the 30th anniversary of Novo’s operations in China, coinciding with its official launch of Wegovy in the country, providing access to over 500 million potential candidates for treatment by 2045.
With Chinese authorities approving Wegovy in late June, Novo is positioned to tackle the rising obesity and diabetes rates among the population. In the initial phase, Wegovy will primarily target patients who can pay out-of-pocket, while the company explores opportunities to include the medication in subsidy programs as it increases production capacity. Novo Nordisk China
