By Dominic Chopping
Novo Nordisk aims to produce insulin in South Africa along with a partner to treat diabetics across the African continent, it said on Tuesday.
The Danish pharmaceutical giant said it will work with Aspen SA Operations and Aspen Pharmacare in South Africa to produce 16 million vials next year which could treat 1.1 million people annually.
By 2026, Novo Nordisk plans to treat 4.1 million people living with type 1 and type 2 diabetes across the African continent.
The insulin will be distributed at low-cost to health authorities and non-governmental organisations through government tenders and the company said it will guarantee a ceiling price of $3 per vial.
Around 24 million adults currently live with diabetes in Africa and this figure is estimated to increase to 55 million by 2045, it said.
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(END) Dow Jones Newswires
September 19, 2023 07:10 ET (11:10 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.