News Article

Danish multinational pharmaceutical company Novo Nordisk has announced a significant capital investment of €432 million to expand its manufacturing facility in Athlone, Ireland, specifically to ramp up production of oral GLP-1 treatments.

The initiative, announced March 2, focuses on increasing capacity for the tablet version of its weight-loss drug, Wegovy, and is intended to serve markets outside the United States. The investment underscores the Danish pharmaceutical company’s commitment to diversifying its product delivery systems and strengthening its global supply chain against intense industry competition.

The project involves a major upgrade and retrofit of the existing facility in Monksland, which Novo Nordisk acquired from biopharmaceutical company Alkermes in 2024.

The new expansion is expected to create up to 500 jobs during the construction phase, which has already commenced and is scheduled to be finalised in phases from late 2027 through 2028. Once fully operational, the plant will serve as a critical hub for manufacturing oral products, a segment the company views as essential for future growth as it seeks to meet rising global demand.

For investors, this development represents a calculated effort to maintain dominance in the obesity care market where Novo Nordisk faces stiff competition from Eli Lilly. Shares in Novo Nordisk have fallen by over 30% over the past six months.

The oral formulation of Wegovy is considered a key differentiator in competing with Lilly’s Zepbound, offering patients an alternative to injectable therapies.

The competitive landscape in Ireland is also intensifying, with Eli Lilly establishing its own manufacturing presence in Kinsale and Limerick.