Sanofi to Spend $1.08 Billion to Boost Drug Production in France
By David Sachs
Sanofi will spend more than 1 billion euros ($1.08 billion) on ramping up production capability in France.
The French pharmaceutical company said Monday that the bulk of the investment will double capacity of monoclonal antibody production, which are key in developing an array of pharmaceuticals, at its Vitry-sur-Seine site.
The money will also boost formulation, filling, device assembly and packaging at its Le Trait site in Normandy, and fund production of its Tzield diabetes treatment at its Lyon Gerland site. The treatment currently is produced outside of Europe.
"This new investment will create more than 500 jobs and significantly strengthen France's ability to control the production of essential medicines from start to finish, for the present day and into the future," the company said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
May 13, 2024 02:22 ET (06:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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