(CTN News) – Sanofi is expected to invest between 1.3 billion and 1.5 billion euros in its Frankfurt production unit, according to Reuters and Handelsblatt. The insulin brand Lantus is manufactured at this plant, which is solely responsible for its production.
In the past, Sanofi had revealed that it had explored relocating its Lantus production activities to France; but, in the end, the business made the decision to upgrade its position in Germany.
However, this investment would be good to Germany’s economy, which has been struggling for a few months due to high interest rates, rising living expenses, and continuous inflation. Sanofi has not released a great deal of information regarding this investment; however, it would be advantageous to Germany’s economy.
Furthermore, Daiichi Sankyo, a large healthcare and pharmaceutical company, recently made an announcement regarding an additional investment of one billion euros in two cancer research centers.
This Sanofi investment was planned to be made in each of these facilities.
One of these institutes can be found in Cambridge, Massachusetts, while the other can be found in close proximity to Munich.
To improve our position in the global drug discovery economy, Ken Takeshite, who is the worldwide chief of research and development at Daiichi Sankyo, issued the following statement in a news release: “The opening of our research facilities in Cambridge and Munich is a significant move to strengthen our position.”
“Daiichi Sankyo will continuously generate innovation through further collaborations with business partners and academia, contributing to the enrichment of quality of life worldwide,” according to the announcement that the company made. “By enhancing our presence in these regions and utilising our strengths in science and technology.”
Late in the year 2023, the American pharmaceutical corporation Eli Lily announced that it will be investing in a facility in Rhineland-Palatinate, Germany, that will be worth $2.5 billion (€2.33 billion), with the facility’s primary focus being on the injectable pharmaceuticals that the business produces.
As stated by Dr. Robert Habeck, who serves as both the vice chancellor and the federal minister for Economic Affairs and Climate Action, “The decision to locate here is good news for Germany as a business location.” This assertion was made by Eli Lily in a press release that was distributed at the time for public consumption.
This not only makes healthcare more accessible to our people, but it also signals that businesses have faith in Germany’s potential as a place for manufacturing and pharmaceutical production. Additionally, it creates new jobs that are inventive and forward-thinking.
“With its advanced production facilities, research and development capabilities, and high-tech facilities, the new location will significantly contribute to the industrial value creation in Germany.”
Dupixent increased Sanofi’s sales by 6.7% for the quarter that ended in 12024.
A recent announcement made by Sanofi revealed that the company has achieved remarkable achievements for the first quarter of 2024, with revenues increasing by 6.7%. The majority of this was due to the pharmaceutical substance known as Duxipent, which is given for the treatment of a wide range of ailments, such as asthma, atopic dermatitis, and nasal polyps, amongst others.
Sales of Duxipent achieved a total of 2,835 million euros for the company, representing a 24.9% rise over the previous year. In the year 2024, Sanofi forecasts that the sales of pharmaceuticals would reach around 13 billion euros. This revenue is expected to be generated.
Similar to the previous example, Beyoncé was the driving cause for the 5.6% increase in sales that vaccines were able to obtain. Because of the help provided by Nexviazyme and ALTUVIIIO, the total amount of money spent on pharmaceutical launches reached €606 million, which represents a 90.5% increase.
“We are off to an excellent start in 2024, delivering on our strategic priorities and a transformation of our portfolio of medicines and vaccines to become a development-driven, tech-powered company committed to serving patients and accelerating growth,” stated Paul Hudson, the chief executive officer (CEO) of Sanofi, in a press release.
“We are committed to serving patients and accelerating growth.” “We are committed to serving patients and accelerating growth.”
Source: Einnews
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