Danish pharmaceutical company Novo Nordisk announced on Friday that it will invest 864 million Brazilian reals ($158.2 million) to renovate a factory in Brazil that produces a quarter of Novo Nordisk's global insulin production. Novo Nordisk stated in a statement that this funding will be used for a comprehensive overhaul of the Montesquiros factory located in the southeastern state of Minas Gerais, Brazil, and to implement sustainable development projects at the factory.