Novo Nordisk Construction Site Hit by Fire

By Dominic Chopping

A Novo Nordisk building under construction in Denmark was hit by fire on Thursday, the company said.

The blaze, which started on the roof of the building, has been extinguished and there are no reports of injuries, the Danish pharmaceutical giant added.

Novo Nordisk confirmed the building is in Kalundborg, a city west of the capital Copenhagen, but declined to comment further.

The company is working to quickly increase production capacity as it looks to meet surging demand for its hit weight-loss and diabetes drugs.

It has committed to invest 60 billion Danish kroner ($8.75 billion) between 2022 and 2029 to expand existing facilities in its manufacturing hub, which is based in Kalundborg, to establish additional capacity mostly for the active pharmaceutical ingredients used in its drugs.

Shares in the company dropped sharply on news of the fire initially but have since recovered slightly to trade around 0.8% lower in afternoon trade.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

May 16, 2024 09:21 ET (13:21 GMT)

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