Sanofi’s China-based subsidiary has signed a memorandum of cooperation with Beijing Municipal Bureau of Economy and Information Technology and Beijing Economic and Technological Development Zone to invest €1 billion to establish a new manufacturing base. This is a significant milestone in Sanofi’s development in China, demonstrating its commitment to long-term growth. The investment will be used to build a second production base in Beijing, focused on enhancing local end-to-end insulin production and manufacturing capabilities to meet the needs of diabetic patients in China. This will be Sanofi’s fourth production and supply base in China, and its largest single investment in the country. The news comes as several pharmaceutical companies increase their investments in China. The development will provide a significant boost to Sanofi’s presence in China and further solidify its position as a leading player in the Chinese market.
Source: https://www.thepharmaletter.com/sanofi-punts-1-billion-euros-on-new-insulin-production-base-in-china