Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Sanofi boosts French biomanufacturing with €1 billion investment

EditorRachael Rajan
Published 13/05/2024, 14:52
© Reuters.
SASY
-

PARIS - Sanofi (NASDAQ:SNY), a global biopharmaceutical company, announced today a significant investment of over €1 billion to expand its biomanufacturing capabilities in France. This initiative is set to create more than 500 new jobs and enhance the nation's capacity to produce essential medicines.

The investment will bolster production at three of Sanofi's French sites: Vitry-sur-Seine, Le Trait, and Lyon Gerland. In Vitry-sur-Seine, the company plans to invest €1 billion to construct a facility that will double the site's capacity for monoclonal antibody production. This expansion is expected to support the production of treatments for chronic conditions such as COPD, asthma, multiple sclerosis, and type 1 diabetes, potentially serving millions of patients globally. The investment is projected to create 350 jobs.

At Le Trait, Sanofi will invest €100 million to develop capacities for biologics formulation, filling, device assembly, and packaging, which is anticipated to support the launch of new biologics and vaccines. This site will also aid in the growth of Dupixent®, a treatment for various inflammatory diseases. The investment at Le Trait will contribute to the creation of 150 jobs.

In Lyon Gerland, the company is investing €10 million to transfer the production of TZield®, a treatment for type 1 diabetes, to France. This move aims to localize the production of the biologic, which Sanofi acquired in April 2023 and was previously manufactured outside Europe.

According to Sanofi CEO Paul Hudson (NYSE:HUD), these investments are part of Sanofi's ongoing commitment to France, aligning with its strategy to produce future medicines and make them available to patients worldwide. Hudson highlighted the company's transformation since 2020, which has led to a record number of medicines and vaccines in development.

Sanofi's industrial footprint in the European Union accounts for over 60% of its global production, with only 5% of its active ingredients sourced from Asia. This strategic positioning contributed to a trade balance surplus of more than €13 billion for France in 2023.

The new investments complement other significant projects initiated by Sanofi since the Covid-19 pandemic, aimed at building new drugs and vaccines production capacity in France. These projects include a nearly €500 million investment in Neuville-sur-Saône for an evolutive facility for biological drugs and vaccines, and a €250 million investment in Val de Reuil for Europe's largest flu vaccine production unit.

Sanofi's President of France, Audrey Derveloy, emphasized the company's historical commitment to equipping France with strategic platforms for essential medicine and vaccine production. These efforts are in line with Sanofi's "Play to Win" strategy, which focuses on becoming a world leader in immunology.

This article is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.