French Pharmaceutical Giant Sanofi to Invest €13-15 Billion in German Production Facility
01 Jul 2024
According to a report in the German business newspaper on Monday, the French pharmaceutical giant Sanofi plans to make a major investment of between €13 billion and €15 billion (equivalent to $14 billion to $16 billion) in its large production facility located in Frankfurt, Germany, for the manufacturing of its insulin brand Lantus.
The report, citing sources within the German government, indicates that Sanofi initially considered shifting LantusLantus production to France, but has since changed its strategy. The company is now close to committing to an upgrade and renovation of its factory in the Höchst district of Frankfurt, Germany.
Sanofi has not yet responded to requests for comment on this report.
It is worth noting that the German governing coalition has recently succeeded in attracting multiple investments in the healthcare sector. For instance, Daiichi Sankyo (4568.T) announced in February that it will invest around €1 billion to drive its precision anti-cancer drug development work near Munich. Additionally, the American pharmaceutical company Eli Lilly announced in November last year that it will invest €2.3 billion in Germany to produce drugs for the treatment of obesity and diabetes.
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