Sanofi plans up to USD 1.6 billion investment in Germany: Handelsblatt
Frankfurt: French pharmaceutical company, Sanofi, is close to deciding on an investment ranging between 1.3 billion euros and 1.5 billion euros ($1.4-$1.6 billion) for its primary production facility in Frankfurt, Germany. This site manufactures the insulin brand Lantus, newspaper Handelsblatt reported on Monday.
Sanofi did not immediately respond to a request for comment, as per Reuters.
Among recent wins by Germany's ruling coalition to attract healthcare investments, Daiichi Sankyo said in February it would spend about 1 billion euros to boost its work on precision cancer drugs near Munich.
U.S. drugmaker Eli Lilly in November last year pledged to invest 2.3 billion euros to make obesity and diabetes drugs in Germany
Read also: Sanofi names Audrey Duval Derveloy as Executive Vice President, Global Head of Corporate Affairs
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