French pharmaceutical giant Sanofi has confirmed it will
invest 1.3 billion euros to expand
insulin production in the western German city of Frankfurt am Main.
BERLIN, Aug. 1, 2024
/PRNewswire/ -- Sanofi says the expansion will encompass around
36,000 square meters – the equivalent of five football fields – on
the company's existing BioCampus site. It will go operational
in 2029.
The project is being supported by the German national government
and the government of the regional state of Hesse, pending European
Union approval. Sanofi is one of the world's leading producers of
insulin.
"With this project, we reaffirm our commitment to help diabetes
sufferers around the world," said Sanofi Global Head of
Manufacturing & Supply Brendan O'Callaghan in a company
statement. "We're using the long-time expertise of our Frankfurt
BioCampus and its highly qualified personnel."
"Our planned investment underscores the central role played by
the Frankfurt BioCampus in strengthening the resilience of global
insulin production," added the chairman of Sanofi in Germany, Heidrun Irschik-Hadjieff. "The strong
support of both the national and regional German governments is a
powerful signal for the bio-pharmaceutical industry."
In 2023, the German national government adopted an official
pharma strategy bolstering support for companies, streamlining
approval procedures and improving conditions for research and
development in Germany. Sanofi
isn't the only international pharma company putting big money into
Germany. US firm Eli Lilly and
Company is building a new 2.3-billion-euro German production facility, and
Japan's Daiichi-Sankyo and Swiss
giant Roche are also making billion-euro investments in
Europe's largest economy.
"The Sanofi expansion is great news for Germany as a pharmaceuticals location and an
expression of Germany's past and
future strength in the area," says Germany Trade & Invest CEO
Robert Hermann. "The German
government sees pharma as an economic pillar in the years to come,
and the incentives and reforms it has promoted are encouraging some
of the biggest names in the global industry to put their faith in
the country. There's every reason to expect that more and more
international companies will follow suit."
Germany Trade & Invest is the German government agency
for international business promotion and is owned by the Ministry
for Economic Affairs and Climate Action. It helps international
companies do business in Germany
and German companies do business abroad.
Contact:
Jefferson Chase, Senior
Communications Manager
Germany Trade & Invest
Friedrichstrasse 60
10117 Berlin, Germany
jefferson.chase@gtai.de
+49 1796873724
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SOURCE Germany Trade & Invest