NOVO NORDISK TO INVEST IN SPAIN

The Danish drug manufacturer Novo Nordisk is looking for ways to invest in Spain through its Spanish subsidiary, Novo Nordisk Pharma Espana, as a result of both the Spanish company and the parent company having performed well in 1991 (Marketletter March 16), reports the Spanish financial daily Cinco Dias.

The president of the Spanish company, Viggo Birch, confirmed that Novo Nordisk is looking to greatly penetrate the Spanish market, including the construction of pharmaceutical plants in the country. NNPE is currently talking with the Spanish Industry Ministry about the possibilities that exist in the country.

NNPE is the market leader in Spain for insulin production and industrial enzymes. Spain is the fourth most important market for the Danish group. NNPE achieved annual sales of 5 billion pesetas ($48.1 million), and has 80 employees. Mr Birch says that increases are being achieved in diabetes, growth hormone, hemophilia, and biotechnology fields. He suggests that the company should be able to commercialize the blood clotting product Factor 7A within two to three years.