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Novo Nordisk A/S (NYSE:NVO) is one of the 10 best defensive stocks to buy in a volatile market. On July 7, the company received a significant boost in its proposed $2.34 billion investment in a factory in Rome, Italy.
Italian authorities have already appointed Francesco Rocca as president of the Lazio region, which includes Rome. He is responsible for accelerating projects related to the Novo Nordisk facility. The Lazio region has already approved upgrades for road links worth more than €2.9 million.
The proposed facility is designed to produce weight loss and diabetes medications, with production scheduled to commence in late 2026 or early 2027. The Italian government has already given Novo Nordisk the green light to upgrade the capacity of its Anagni site.
While we acknowledge the potential of NVO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now.
Disclosure: None. This article is originally published at Insider Monkey.
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