Novo Nordisk said on Tuesday that it will invest about 4 billion yuan ($555.7 million) to expand its existing production site in Tianjin, marking a major move in the country for the Denmark-based pharmaceutical company.

This follows a prior 1.18 billion yuan investment in finished production and pre-filled lines in the Tianjin Economic and Technological Development Area during the first quarter of 2023, signifying its continued commitment to growth and innovation in the region.

Lars Arnoldsen, corporate vice-president of Novo Nordisk, said, "With the expansion project, we'll be able to further increase manufacturing capability to support the localization of more innovative medicines, delivering the highest quality to patients."

The expansion project encompasses the development of a state-of-the-art filling facility equipped with isolator technology and is slated for completion in 2027.

Christine Zhou, the company's global senior vice-president and president of the China region, said: "The significance of 2024 is Novo Nordisk's 30th anniversary of successful operations in China. Tianjin holds a special place in the company's history as its initial foothold in the country."

Zhou said further, "We will advance the process of drug localization while contributing to the goals of Healthy China 2030."

The company, Zhou said, is confident about further investments in China, and cited "the nation's determination and commitment to openness, as well as the government's initiatives to enhance public health" as the key reasons.

Lian Maojun, Party chief of Binhai New Area in Tianjin, where Novo Nordisk's key site is located, highlighted the area's commitment to providing comprehensive support to foreign companies.

"The provision of tailored and expert-style services, policy innovations, and support for cross-border production aid the takeoff of foreign companies," Lian said.

Novo Nordisk's sales in China surged to $2.4 billion last year, marking an 11 percent year-on-year increase.

The International Diabetes Federation reported that China's diabetes patients accounted for a quarter of the global total, reaching 141 million last year.

Global diabetes cases are projected to triple by 2050, reaching 1.31 billion individuals.