Sanofi invests €44m in Ireland to boost production of Lantus
Sanofi has announced it is going to invest €44 million on its site in Waterford, Ireland, in order to boost production of its top-selling insulin, Lantus. The Waterford site is currently the Genzyme biotech plant and approximately 500 people are employed.
After losing exclusivity on some of its key medicines in the US and Europe last year, Sanofi has been reshuffling research and production sites in both these areas. The company is starting with the boost in production of Lantus and aims to start making the insulin at the Irish site in 2016, subject to regulatory approvals.
“Today’s announcement that Sanofi, a world-leading company in this sector, is investing a further €44m is a major vote of confidence in its Waterford site which employs over 500 people and in the south-east region more generally. This investment, which comes on top of a €150m investment little more than a year ago, will ensure that this facility can produce the company’s latest product and provides an indication of the Waterford site’s strategic value.”
Ireland’s Jobs Minister Richard Bruton, TD.
Diabetes continues to be a strong driver of sales for the French drugmaker, after reporting a sales growth of 16.7% in the fourth quarter of 2012, largely attributed by Lantus.
Sanofi boosts Lantus insulin production in Ireland (Reuters)
Pharmacy firm announces €44m investment (Independent)
Sanofi (France) (SAN.PA) to Invest $59.3 Million in Genzyme Corporation (GENZ)'s Waterford Campus (Biospace)