Genmab approves plans for new factory in Medicon Valley  

Danish biotech company to build DKK 125 million production plant, creating 200 new jobs

The Danish biotech company Genmab will create 200 new jobs in Hillerød, just north of Copenhagen, with a DKK 125 million (€ 17 million) factory planned to open by the end of 2004. The facility will produce drugs for cancer and rheumatoid arthritis.

Genmab’s board of directors has approved plans to build a 10,000 square meter pharmaceutical factory in the area now widely known as Medicon Valley. The American company Biogen already has a factory in the neighbourhood.

“It is a great advantage to place production close to other companies” Genmab’s Managing Director Lisa Drakeman is reported as saying.” It is easier to recruit employees to areas where there are companies of the same kind”.

Located in the Øresund region, Medicon Valley is one of the three largest medical and biotechnological growth centres in Europe and home to more than 60% of Scandinavia’s pharmaceutical industry. Industry heavyweights such as Pharmacia & Upjohn, AstraZeneca, Novo Nordisk and Lundbeck have their domicile in the region as have 250 smaller and medium sized biotech companies, employing 40,000 people and generating annual exports of $4 billion. In the biotech industry, the region has the highest turnover per capita in the world.

Source: Berlingske Tiderne Internet News

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