Novo Nordisk, which relies on Indian drugmaker Torrent Pharmaceuticals to produce much of the insulin it sells in that country, has plans for a major capacity boost there.
The two companies, which have been partners in India since 1992, this week announced plans for Torrent to expand a plant at its site in Indrad near Ahmedabad that is dedicated to producing Novo insulins, the Hindu Business Line reported.
Torrent has invested more than $9 million in the current facilities, which produce about 26 million vials of insulin a year. With the expansion, the capacity will be increased by 30% to 35%, a Torrent executive said at the announcement.
The current facility meets about 75% of Novo’s needs in the country. With the expansion, Novo, which holds a 60% market share for insulin in India, expects to be able to serve another 2 million patients.
The most valuable insulin market, of course, is the U.S., and in 2015 the Danish company picked a site in Clayton, North Carolina, for its first U.S. facility. Its plans call for investing about $1.2 billion and adding 700 jobs there. The drugmaker, like other producers of diabetes medications, has faced tough pricing in the U.S. market in recent years.