Sanofi to Invest €1 Billion ($1.05 Billion) in Largest Single Investment for Beijing Insulin Production

Dec 2, 2024, 04:39 PM

Sanofi, the French pharmaceutical company, has announced plans to invest approximately 1 billion euros ($1.05 billion) to establish a new insulin production facility in Beijing. This investment marks Sanofi's largest single investment in China to date. The announcement follows a meeting between China's Commerce Minister Wang Wentao and Sanofi's Chairman Frédéric Oudéa, where Wang emphasized China's commitment to providing a favorable business environment for pharmaceutical companies. This development comes amid ongoing trade tensions between China and the European Union, highlighting Sanofi's strategic move to strengthen its presence in the Chinese market.