Eli Lilly unveils new manufacturing plant for GLP-1 pens [Yahoo! Finance]
Novo Nordisk A/S (NVO)
Last novo nordisk a/s earnings: 2/5 01:31 am
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Source: Yahoo! Finance
The injectable drugs, Mounjaro for diabetes and Zepbound for weight loss, are two of Lilly's hottest products in the past year, sending the company's stock up nearly 100%. The new 1 million-plus square foot facility will begin manufacturing the injectable pens in 2025. It's part of an ongoing strategy to grow manufacturing to meet unprecedented demand. Lilly and competitor Novo Nordisk ( NVO ) are the duopoly controlling the current GLP-1 market, and there is more demand than the companies combined can supply. Lilly CEO Dave Ricks recently told the Wall Street Journal the market would have to build 10 to 15 new facilities to meet current demand. The company has already identified or started building seven facilities, investing $18 billion into the strategy, according to executive vice president Edgardo Hernandez. The Concord facility alone has cost the company double its original investment , $2 billion instead of $1 billion. Hernandez said the company built the Concord f
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NVO
Earnings
- 5/3/24 - Beat
NVO
Sec Filings
- 6/17/24 - Form 6-K
- 6/10/24 - Form 6-K
- 6/3/24 - Form 6-K
- NVO's page on the SEC website