New production for insulin - Report: Sanofi plans to invest billions in Frankfurt
The French pharmaceutical company Sanofi is reportedly planning to invest up to 1.5 billion Euros in its insulin production site in Frankfurt. The company is considering building a new production facility at its location in the district of Höchst, and could take between 1.3 and 1.5 billion Euros for this project, according to "Handelsblatt," citing government sources. Sanofi already operates a production site for insulin in Höchst, which is expected to make way for a new facility as part of the transition to modern technology. A final decision has not been made, but preparations for construction in Höchst are already underway, it was noted.
Chancellor Olaf Scholz (SPD) is reportedly pleased with the investment. "The Federal Chancellor looks at this development with a very positive outlook," said government spokesperson Steffen Hebestreit in Berlin. He was not surprised by the news.
The Hessian state government is getting involved
According to the Hessian state government, Minister President Boris Rhein (CDU) and Economy Minister Kaweh Mansoori (SPD) have been in talks with Sanofi for months about a possible settlement. "A financial participation of the state is fundamentally thinkable to secure and create jobs, to leverage investments, and to set incentives for innovations," said a government spokesperson.
In the midst of the debate about the struggling economic location and the often criticized shortage of important medicines, a billion-dollar investment from Sanofi in Frankfurt would be a positive signal for Germany. Recently, several foreign pharmaceutical companies have announced multi-billion Euro investments in Germany: US pharmaceutical company Eli Lilly is investing 2.3 billion Euros in the construction of a production site in the Rhineland-Palatinate Alzey. Billion-dollar investments in Germany have also been decided by Daiichi-Sankyo from Japan, the Swiss pharmaceutical company Roche, and the Darmstadt DAX-listed Merck.
Good news for struggling economic location Germany
Sanofi declined to confirm the Handelsblatt report. The company stated that it "continuously examines investment opportunities" to improve the resilience of its supply chains worldwide and ensure the supply of patients with important medicines and vaccines.
The Frankfurt site is one of Sanofi's largest sites with around 6,600 employees. Worldwide, more than 86,000 people work for the company. Recently, it was reported that Sanofi was still considering moving its insulin production from Frankfurt to France, according to Handelsblatt. These plans appear to have been abandoned.
- The news of Sanofi's potential investment in its Frankfurt insulin production site caught the attention of the Hessian state government.
- The pharmaceutical company Sanofi, based in Frankfurt am Main, Germany, is known for its involvement in the Pharmaceuticals sector.
- During discussions between Sanofi and the Hessian state government, led by Minister President Boris Rhein (CDU) and Economy Minister Kaweh Mansoori (SPD), the possibility of a state financial participation was considered.
- The planned investment by Sanofi in its Frankfurt site could contribute significantly to the country's Economic policy, providing a much-needed boost to the struggling economic location in Germany.
- The report of Sanofi's investment plans in its Frankfurt site has sparked interest within the Federal Government, with Chancellor Olaf Scholz (SPD) expressing a positive outlook on the development.
- Sanofi's current insulin production site in Höchst, Frankfurt, is anticipated to make way for a new facility as part of the transition to modern technology, in light of the potential investment.
- In the past, several foreign pharmaceutical companies, including Eli Lilly, Daiichi-Sankyo, Roche, and Merck, have announced billion-dollar investments in Germany, reflecting a positive trend in the country's Pharmaceuticals sector.
