French pharmaceutical company Sanofi planning to build new production facility in Germany amidst investment concerns
The French pharmaceutical company Sanofi is considering investing between 13 and 15 billion euros for a new production facility in the Frankfurt district of Höchst. Sources close to the German government have revealed this information to Handelsblatt. Sanofi currently operates a production site for insulin in Höchst, which is expected to be replaced by a more modern plant in the future. While the final decision has not been officially announced, insiders are confident that it will be in favor of the existing German location. Preparations for construction work at the site have already begun. Initially, Sanofi had contemplated relocating insulin production to one of its French sites, but sources suggest that the company is leaning towards Germany. This decision could serve as a positive signal for the German economy, which has been experiencing investment weakness. Recent trends have shown German investors increasing their investments abroad while foreign investors have been less inclined to invest in Germany. In 2023, the net outflow of investments from Germany amounted to 94 billion euros, as reported by the Institute of the German Economy (IW). Sanofi's potential investment in Germany comes at a crucial time, offering hope for the country's economic prospects.
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