The Danish pharmaceutical company behind obesity drug Wegovy, Novo Nordisk, plans to invest US$1.09bn in expanding its facility in Minas Gerais, southeast Brazil.

The 74,000-sq-m project will be used for multiple products, including the GLP-1 hormone used in its diabetes treatment Ozempic.

Brazil is one of Novo Nordisk’s five biggest markets and the company exports to 70 countries from there, Reuters reports.

Reinaldo Costa, corporate vice president of the Montes Claros facility said it would be a “considerable and significant increase”.

The expanded factory is due to begin production in 2028.

Novo Nordisk has played down concerns over US President Trump’s tariffs, noting it has factories in the US, plans for one of which were announced last June.