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Business

Novo Nordisk to Invest $4.1 Billion in New Manufacturing Plant

Novo Nordisk announced plans to invest $4.1 billion in a new manufacturing plant in Clayton, North Carolina, to boost the supply of its popular weight loss drug Wegovy, diabetes treatment Ozempic, and other injectable therapies. This move comes in response to the high demand and intermittent shortages of these drugs in the U.S. The facility, expected to be completed between 2027 and 2029, will fill and package syringes and injection pens and will employ 1,000 workers. This investment is part of Novo Nordisk's broader plan to spend $6.8 billion on production this year, significantly increasing its manufacturing capacity.

Shopify Partners with Target for Expanded Marketplace Reach

Shopify merchants can now access Target's vast customer base through Target Plus, the retailer's third-party marketplace, following a new partnership announcement. This collaboration allows Shopify sellers, including brands like True Classic and Caden Lane, to feature their products not only online but also potentially in Target's physical stores, marking Target as the first major retailer to integrate Shopify merchants in this way. Target Plus, launched in 2019, aims to diversify its product offerings and compete with larger marketplaces like Amazon and Walmart, though it currently hosts significantly fewer sellers. The partnership comes amid Target's strategic efforts to revive sales growth, as evidenced by recent declines in both quarterly and overall sales.

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