Novo Nordisk enlists Thermo Fisher as 2nd Wegovy contract manufacturer

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Novo Nordisk enlists Thermo Fisher as 2nd Wegovy contract manufacturer - Reuters

Published Aug 23, 2023 23:34

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Novo Nordisk enlists Thermo Fisher as 2nd Wegovy contract manufacturer - Reuters

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According to a Reuters report Wednesday, Novo Nordisk (NYSE:NVO) has enlisted Thermo Fisher Scientific (NYSE:TMO) as their second contract manufacturer for their highly sought-after weight-loss medication, Wegovy.

Sources told the publication that Thermo is responsible for filling the Wegovy injection pens at their factory located in Greenville, North Carolina.

The news has seen Thermo shares jump, hitting a high of $547.50 per share. The stock is currently trading at $542.20, up more than 2.8% in the session.

In May, Novo Chief Financial Officer Karsten Munk Knudsen revealed to Reuters that the company had signed up a second contract manufacturer in the US but did not disclose the identity of the company.

Novo is said to be rushing to increase the output of the drug to meet soaring demand in the US following production problems at a factory in Brussels, Belgium, operated by its first contract manufacturer, Catalent (NYSE:CTLT).

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