Sanofi announced the largest investment to date in China. The French pharmaceutical group plans to invest nearly a billion euros in the country in a new insulin production site for patients with diabetes.
Sanofi signed “a memorandum of understanding with the municipal government of Beijing” to invest in this “new production site located in the economic and technological development zone of Beijing”, according to a press release issued by Sanofi in China. This new site aims “to ensure an affordable and accessible supply of insulin products for patients with diabetes in China,” continues the laboratory.
This investment was announced during a visit to China by the Chairman of the Board of Directors of Sanofi, Frédéric Oudéa.
“Increasing insulin production capacities will make it possible to effectively respond to the growing global prevalence of diabetes,” underlines the group.
Three Sanofi production sites in China
Sanofi, which was “one of the first multinationals to enter China 42 years ago”, as recalled by Sanofi boss Paul Hudson, quoted in the press release, will thus strengthen its industrial presence in this country, where it already has three production sites in Beijing, Shenzhen and Hangzhou.
This summer, the French pharmaceutical giant announced an investment of around 1.3 billion euros in the construction of a new insulin production facility in Germany, at its site near Frankfurt.
