Sanofi's Largest China Investment: $1.1 Billion Insulin Plant in Beijing

Dec 3, 2024, 05:43 AM

Sanofi, a French pharmaceutical company, has announced plans to invest approximately $1.1 billion (€1 billion) in establishing a new insulin production facility in Beijing, marking its largest single investment in China to date. The project, which will be Sanofi's fourth production-and-supply base in the country, comes at a time of heightened China-EU trade tensions. The investment aims to boost insulin production, aligning with China's efforts to attract foreign investment amidst global economic challenges. The agreement was formalized through a Memorandum of Understanding (MoU) signed in the Beijing Economic-Technological Development Area.