Novo Nordisk

Pharmaceuticals
NYSE: NVO
Denmark

"Danish drug maker Novo Nordisk signed a deal with Barakat Pharmed Co. in June 2016 to build a manufacturing plant for insulin pens in a specially developed industrial site. Barakat belongs to Setad. Novo Nordisk said earlier it would make a 70 million euro ($75 million) investment. The choice will allow Novo Nordisk to access infrastructure and transportation and create jobs, a Novo Nordisk spokeswoman said. A Barakat official, Nasrallah Fathiyan, said Khamenei doesn't own the company but supervises it, "so that everything goes smoothly." Setad said the agreement was a contract to give the company land for the plant rather than a business deal." (Reuters, "Post-Sanctions Deals with Iranian Firms Linked to Khamenei," 1/19/2017).

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"Danish drugmaker Novo Nordisk, the world's top insulin supplier, expects to be ahead of the pack now nuclear sanctions are lifted in Iran, thanks to a continuous presence and a pre-emptive investment plan. The country is an attractive target for Big Pharma seeking to sell new medicines to its large and growing population, but going in at ground level and securing good relations with authorities will be key, industry executives say... 'With the sanctions being lifted, we can operate more freely,' Jakob Riis, Novo's head of marketing told Reuters at the World Economic Forum in Davos, Switzerland. The Danish company has maintained a staff of around 130 in Iran through the sanctions era and it now plans to more than double that, adding 160 additional staff, following a decision in September to invest 70 million euros ($76 million) on a factory in the country. 'Novo has been there throughout. Now there are a lot of companies lining up to get into Iran and I think we are going to benefit from having been there for a while,' Riis said... Other drugmakers are actively pursuing the opportunity. 'It's a significant country,' said Christophe Weber, CEO of Takeda, Japan's biggest drugmaker. 'We have a team assessing the situation.' ... Also ahead of the curve, Indian generics maker Cipla set up a manufacturing plant in Iran in 2014." (Reuters, “Novo aims to be ahead of pharma pack with Iran investment,” 1/21/2016)