Novo Nordisk, the world’s largest diabetes drug-maker, will produce medicine for certain non-communicable diseases including insulin pens for diabetes, said company president and CEO, Lars Rebien Sorensen, on the periphery of the International Diabetes Leadership Forum 2015 in Tehran.
“We have signed a memorandum of understanding with the Iran’s Health Ministry to build a pharmaceutical plant here and teams from both sides are surveying sites for a location,” he said, as reported by IRNA.
The company’s investment in the manufacturing plant would be worth €70 million ($78 million).
“The long-term investment aims to transfer the production knowhow for the drugs using state-of-the-art equipment, and supply the Iranian market with quality diabetes drugs,” he said. The plant equipped with the latest technology would be built within three to five years.
A large part of the 400 million diabetics in the world use Novo Nordisk products, offered by production facilities in seven nations, and affiliates or offices in 75 countries.
He underlined his company’s objective to eliminate the disease worldwide, prevent further growth, and increase life expectancy.
The company already has a subsidiary in Iran employing 130 people since 2005.
