Novo Nordisk invests €104M in new laboratory for Diabetes

novo nordisk diabetes

Danish insulin giant Novo Nordisk has made a 104 million euros investment in new laboratories at the company’s research and development campus. Based in Malov in Denmark, the lab is expected to be ready for occupation in early 2016.

The new facility, Diabetes Research House, will accommodate approximately 350 employees. During the construction phase, the project is expected to generate more than 1,000 jobs outside Novo Nordisk.

“The new lab facility will provide an environment for cutting-edge diabetes research within biotechnology and protein chemistry,” said Mads Krogsgaard Thomsen, executive vice president and chief science officer of Novo Nordisk. “Here our researchers will be working closely together with leading scientists in Denmark and abroad on the discovery and development of new medicines for the treatment of type 1 and type 2 diabetes.”

Moreover, the company inaugured an obesity drug which spurred statistically significant Weight Loss compared to placebo in the Phase III. Novo Nordisk accounts for almost half of the global insulin market, which has grown rapidly in recent years following a rise in the number of people suffering from diabetes.

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