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French pharmaceutical firm Sanofi has announced its intention to invest at least $20 billion in the United States (US) through 2030. The expected investment includes a significant increase in research and development (R&D) 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 United States 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.
Paul Hudson, Chief Executive Officer 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."
Of the total investment, Sanofi will substantially increase spending in the US on R&D to accelerate its science. The company also plans to expand its US manufacturing capacity, both through direct investments in Sanofi sites, as well as through partnerships with other domestic manufacturers, to help ensure the production of medicines in the US.
While Sanofi's investment decisions will be adjusted as the external environment continues to evolve, the planned investments are expected to create a significant number of high-paying jobs in multiple states in the coming years.
