Danish healthcare giant Novo Nordisk has announced in a press release that it is has broken ground for a USD 400m new insulin production plant in Tianjin, China. It will serve as the primary production base in the Asia Pacific region and supply both China and export markets.
The company writes that it is one of the largest investments in its history, and the largest single investment to date outside Denmark. Construction of the plant is expected to take two years.
Novo Nordisk's CEO Lars Rebien Sørensen comments: “The new plant in Tianjin will become the world’s most modern insulin formulation and filling plant and is yet another example of the increasingly important role China is playing in Novo Nordisk’s global operations.”
Diabetes is a growing problem in China with nearly 40 million people estimated to be affected, the second-highest number for a single country after India. There are also indications that the number will rise: 64 million Chinese have impaired glucose tolerance, or prediabetes*.
Headquartered in Denmark, Novo Nordisk is a world leader in diabetes care. The company employs more than 26,550 employees in 80 countries, and markets its products in 179 countries. Novo Nordisk’s B shares are listed on the stock exchanges in Copenhagen and London.
*Levels of blood glucose that are too high to be considered normal but not high enough to meet the criteria for a diagnosis of diabetes – Ed.