The French drugmaker said that the investment of about 1 billion euros will enhance the production and manufacturing of insulin, focusing on serving local diabetic patients.

French drugmaker Sanofi plans to invest 1 billion euros ($1.05 billion) to build a new insulin production base in Beijing, a local authority in the city said on Monday, citing a memorandum of understanding the company signed with an economic zone.

Shortly after a similarly sized venture from Pfizer, French pharma juggernaut Sanofi has unveiled a major manufacturing outlay in China, marking its biggest investment in the country to date. | Sanofi is laying out roughly 1 billion euros ($1.

Sanofi SA will invest around 1 billion euros ($1.1 billion) to build a new insulin production base in Beijing, its biggest single investment in China to date and part of a broader push to boost manufacturing capacity in Asia.

Sanofi just made its largest investment thus far in China. The company has committed just over $1 billion to build a new insulin manufacturing facility in Beijing, reflecting increasing demand for diabetes treatments in the country.

French pharma giant Sanofi will invest some 1 billion euros ($1.05 billion) to establish a new insulin production base in Beijing, according to the Beijing Economic-Technological Development Area (BDA).

Sanofi is one of the world's top producers of insulin, and the China market for treatment of the illness is huge: Some 140 million people in the mainland, nearly 12% of its population, had the illness as of 2021,

The China-based subsidiary of French pharma major Sanofi revealed it has signed a memorandum of cooperation with Beijing Municipal Bureau of Economy and Information Technology and Beijing Economic and Technological Development Zone today to invest around 1 billion euros ($1.

Sanofi’s latest capital outlay in China will cover the development of a new insulin plant in the nation’s capital.