New plant for insulin
Pharmaceutical giant Sanofi plans billion-dollar investment in Frankfurt
01.07.2024, 10:23 a.m.
The Frankfurt site is one of Sanofi’s largest factories. The French pharmaceutical company produces insulin there. Production is set to be expanded even further in the future.
According to a newspaper report, there could be another billion-euro investment from a large pharmaceutical company in Germany. The French drug manufacturer Sanofi is apparently planning to build a new production facility in the Höchst district of Frankfurt and could probably invest between 1.3 and 1.5 billion euros in it, reported the “Handelsblatt” newspaper, citing sources close to the federal government.
The company already operates a production facility for insulin in Höchst. This will make way for a new plant as part of the switch to more modern technology. However, a final decision has not yet been made.
Sanofi was initially unavailable for comment. The Frankfurt site is one of Sanofi’s largest factories. In total, around 8,000 employees work at the three Sanofi sites in Frankfurt, Cologne and Berlin in Germany, and there are over 86,000 worldwide.
Most recently, the US pharmaceutical company Eli Lilly caused a stir with its investment of 2.3 billion euros in the construction of a production facility in Alzey, Rhineland-Palatinate. Daiichi-Sankyo, Roche and Merck also decided to invest billions in Germany.
Investments from abroad give hope that Germany will regain its lost attractiveness as a location. In a study by the Swiss university IMD, the German economy performed rather averagely when comparing location factors – coming in 24th out of 67. Ten years ago, Germany was in 6th place. According to the analysis, the tax burden and infrastructure are putting companies off.