The field of biologics production is one of many that has demonstrated strong potential for growth. On the other hand, the production of biologics using living cells is also seen as a promising answer to the likes of neurology and cancer diseases. In this regard, Sanofi SA (ADR) (NYSE:SNY) has vowed to put in an investment of close to 600 million euros ($673 million) over the next few years in an effort to boost the budding growth.
The investment is expected to reinforce Sanofi’s capacity for extension and taking on employees in its major hubs in the U.S., Germany, and France. After all, a majority of biologics are responsible for the treatment of a variety of medical illnesses and conditions, which have no known treatment to date.
But Sanofi has been investing big
The French drugmaker has been growing from strength to strength and according to its spokesman Nicolas Kressmann, its investment is in the tune of billions. In the last five years, Sanofi has spent 3.3 billion euros as described by its executive VP of global industrial affairs at, Philippe Luscan.
Kressmann explains, “Its part of the €1 billion that we invest every year in our global industrial network. The investments are in line with what the drugmaker has been doing for several years.”
The shift of concentration by the French drugmaker
Sanofi seems to be shifting its concentration so as to accommodate contractors in meeting some of its needs. Unlike many of its peers, it is not putting a lot of emphasis on the production of more complex drugs.
Earlier in the year, the company and Swiss contractor Lonza agreed to work together in building a plant at Lonza’s site in Visp, Switzerland. Two years earlier Sanofi had transferred production on monoclonal antibodies to a Boehringer Ingelheim plant in Germany.
Meanwhile, a treatment for a severe form of eczema, dupilumab has won the FDA’s approval and it has since been branded Dupixent. The delayed approval of sarilumab has also been endorsed and will now roll out as Kevzara. In the meantime, Sanofi’s stock closed at $47.66 witnessing an increase of $0.06 or 0.13%.