Sanofi to Invest €1 Billion ($1.05 Billion) in Fourth Beijing Insulin Production Base Amid China-EU Trade Tensions

Dec 2, 2024, 09:14 PM

Sanofi, the French pharmaceutical giant, has announced plans to invest approximately 1 billion euros (around $1.05 billion) to establish a new insulin production facility in Beijing. This investment represents Sanofi's largest single investment in China to date and marks a significant move amid ongoing trade tensions between China and the European Union. The new manufacturing base will be Sanofi's fourth production and supply site in the country. The announcement was made following a memorandum of understanding signed recently, highlighting the company's commitment to expanding its operations in the region.