Weight-loss injection maker buys Irish factory

There has been increased demand for weight-loss pens globally

The maker of weight-loss drugs Ozempic and Wegovy has bought a factory in the Republic of Ireland as it seeks to increase production.

Novo Nordisk, which is based in Denmark, has become one of Europe’s most valuable companies due to its drugs' success.

It is paying $92.5m (£72.5m) to buy a plant in Athlone, County Westmeath, which is currently operated by the US firm Alkermes.

Thilde G. Hummel Bøgebjerg, senior vice president at Novo Nordisk, said the deal would increase the firm’s capacity.

"With this acquisition, we are excited to soon welcome approximately 400 highly-skilled colleagues currently employed by Alkermes with valuable capabilities within oral drug development and manufacturing," he added.

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Richard Pops, chief executive of Alkermes, said: ‘I am particularly pleased to enter this agreement with Novo Nordisk as it offers our employees at this world-class, state-of-the-art manufacturing facility in Athlone an exciting opportunity for growth."

Semaglutide - which is the generic name for the drug itself – is an obesity treatment that is injected once a week.

It tricks people into thinking they're already full, so they end up eating less and losing weight.

Semaglutide was approved for NHS use earlier this year after research suggested users could shed more than 10% of their body weight.

Novo Nordisk has been struggling to keep up with demand for its products

The drug's popularity in the US has seen Novo Nordisk’s profits increase sharply; it’s profits for the first six months of this year were 39.2bn kroner (£4.5bn) up 43% from 27.5bn kroner for the same period in 2022.

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The company has been struggling to keep up with demand and is investing billions of dollars to upgrade existing manufacturing facilities in Denmark and France.

Ireland is a major centre for pharmaceutical manufacturing with companies like Pfizer and Astra Zeneca operating in the country.