Sanofi to invest 400 million euros in new vaccine production site in Singapore | Inquirer Business
Close  

Sanofi to invest 400 million euros in new vaccine production site in Singapore

/ 03:54 PM April 12, 2021
Sanofi

FILE PHOTO: The logo of Sanofi is seen at the company’s headquarters in Paris, France, April 24, 2020. REUTERS/Charles Platiau

PARIS — French drugmaker Sanofi said on Monday it would invest 400 million euros ($475.40 million) over five years in a new vaccine production site in Singapore.

The new site would provide Sanofi with the ability to produce innovative vaccines on a massive scale for Asia and respond to future pandemic risks, the company said in a statement.

ADVERTISEMENT

The project is expected to create up to 200 local jobs, it added.

Sanofi said it expected to start the construction of the site in the third quarter of 2021 and be fully operational in the first quarter of 2026.

FEATURED STORIES

“The Singapore site will complement Sanofi’s existing manufacturing capacities in Europe and North America and will become a regional center of excellence for vaccines production in Asia”, the company said.

($1 = 0.8414 euros)

Subscribe to our business newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, sanofi, Singapore, vaccines
For feedback, complaints, or inquiries, contact us.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.