Novo Nordisk to invest $158 million in insulin plant in Brazil By Reuters

SAO PAULO (Reuters) – Danish drugmaker Novo Nordisk ( NYSE: ) will invest 864 million reais ($158.2 million) to renovate a factory in Brazil responsible for pumping a quarter of its insulin production to globally, the company announced on Friday.

The funds will repair the Montes Claros plant in the southeastern state of Minas Gerais and implement sustainable projects there, Novo Nordisk said in a statement.

The maker of Ozempic and Wegovy, which have exploded in popularity for their use as weight-loss drugs, made the announcement as Brazilian President Luiz Inacio Lula da Silva met Queen Mary Donaldson of Denmark earlier in the day, the Brazilian government said in a statement.

($1 = 5.4627 reais)