Last year, Norwegian company Vistin Pharma exported 5,300 tons of diabetes medication. Now, the company is preparing to scale up production to 7,000 tons annually.
Vistin Pharma, listed on the Oslo Stock Exchange, was spun off from the well-known pharmaceutical firm Weifa ten years ago. Today, it holds around ten percent of the global market for the active ingredient used in several Type 2 diabetes medications.
“We produce an active pharmaceutical ingredient of exceptionally high purity,” explains CEO Magnus Tolleshaug. “We export 100 percent of everything we make to mid-sized and large pharmaceutical companies around the world, who transform our white powder into tablets.”
Magnus Wilhelm Tolleshaug
CEO of Vistin Pharma AS
A small company with global ambitions
Vistin’s product is registered and used by patients in more than 100 countries, and the company commands roughly a ten percent share of the global market. All production takes place at its factory in Kragerø, where 76 employees manufacture the life-saving ingredient – 5,300 tons last year alone. That’s the equivalent of six full 40-foot containers shipped every week from the ports of Larvik and Brevik to Asia, Latin America, and numerous destinations across Europe.
“In many ways, we’re like a miniature version of a global company, with all the same functions – from sourcing raw materials in the East to shipping finished goods worldwide, and we think that’s pretty exciting,” says Tolleshaug. “We don’t compete with other Norwegian companies, and we see ourselves as a success story for a Norwegian-owned company that shows the importance of maintaining pharmaceutical production in Norway.”
We are talking about an active pharmaceutical ingredient, that is what we produce, with deliveries of very high purity.
“There is not much pharmaceutical manufacturing left in Norway. That’s why we work with the The Association of the Pharmaceutical Industry in Norway (LMI) and others to improve the industry’s operating conditions.”
Vistin Pharma produces the active ingredient used in Type 2 diabetes medication. In 2022, the company invested NOK 100 million in a new production line, doubling capacity from 3,500 to 7,000 tons.
“Today, about 590 million people worldwide live with diabetes, 90 percent of whom have Type 2,” Tolleshaug explains. “The ingredient we produce is affordable, widely used as a first-line treatment, and has few side effects. New complementary products are continuously being developed to help control blood sugar and stimulate insulin secretion. Some of these newer medicines have also proven effective against obesity and are often used alongside treatments containing our ingredient.”
Reliable and customer-focused
“With the number of people living with diabetes projected to rise from 590 million to 840 million by 2050, we need to increase production to keep up with global demand – but never at the expense of the environment, employee welfare, or sound business ethics,” Tolleshaug emphasizes. “Twelve percent of the world’s population between 20 and 79 years old are in a pre-diabetic stage, and they too can benefit from our product.”
Vistin Pharma’s customers value the company’s flexibility, reliability, and customer-oriented mindset.
“It’s part of our culture — a can-do attitude and strong market focus. Since our launch in 2015, we haven’t lost a single customer! They appreciate that we adapt to their needs while maintaining integrity and top quality,” says Tolleshaug.
“But Norway is a high-cost country …”
“Yes, it is, and if you’re going to manufacture here, you need a high degree of automation,” Tolleshaug remarks. “That’s why our factory in Kragerø runs around the clock, with only three operators on the night shift. This allows us to compete with Indian and Chinese producers, but it also means we depend on skilled engineers and technicians, and we’re fortunate to find them here in the Grenland region.”
“We’re glad that new and better diabetes medications are constantly being developed, but they are much more expensive. We produce an affordable and medically effective active ingredient that will remain essential for the unforeseen,” Tolleshaug concludes.
Read more about Vistin Pharma and their work at vistin.com
