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Sanofi announced on Monday an additional investment of 1.1 billion euros for the production of drugs in France.
This additional contribution is added to the 2.5 billion euros already committed to the investment plan deployed by Sanofi to finance its major drug and vaccine production projects in France, explains the group in a press release.
This investment aims in particular to build a new factory on the Vitry-sur-Seine site (Val de Marne) to double the production capacity of monoclonal antibodies on site.
The group also announces the creation of more than 500 jobs.
“In 2023, thanks to this industrial footprint, Sanofi’s contribution to France’s trade balance will amount to more than 13 billion euros,” said Sanofi CEO Paul Hudson.
This announcement comes before the opening of the 2024 edition of the Choose France summit which will give rise to more than 15 billion euros in investment promises in the country, for a total of 56 projects, the Elysée announced on Monday.
(Writing by Lina Golovnya, editing by Kate Entringer)