Sanofi to invest at least $20 billion in USA through 2030

Marking the latest move to pledge spending billions of dollars into the USA, French pharm major Sanofi (Euronext: SAN) announced its intention to invest at least $20 billion in the country through 2030. The expected investment includes a significant increase in research and development spending and the allocation of billions of dollars to US manufacturing.

The announcement comes as Sanofi prepares for the potential launch of numerous new first- or best-in-class medicines across many indications in the coming years, aiming to improve the health of countless Americans. Work being done within the USA by Sanofi and by the hundreds of companies it supports is anticipated to contribute to job creation and innovation in numerous communities that are home to Sanofi and its partners, while also helping to enhance the US supply chain.

Commenting on the decision, chief executive Paul Hudson said: "Sanofi's 13,000 US-based employees are pioneering the research and development of first- and best-in-class medicines across numerous therapeutic areas. Our expected investments in the US will be substantial and will help ensure the production of key medicines in the US.