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Sanofi (France) (SAN.PA) Kicks Off Work on $95 Million Algerian Plant
9/27/2013 7:07:09 AM
Sanofi isn't the only one hiring, others are hiring too! Check it out! (Isn't it tempting?)
Paris, France - September 26, 2013 - Sanofi (EURONEXT: SAN and NYSE: SNY) announced today that construction has begun on its new Sidi Abdellah industrial site in Algeria. The groundbreaking ceremony was attended by Sanofi's Chief Executive Officer, Christopher A. Viehbacher, and Ministers of the Algerian Republic, Amara Benyounes, Minister for Industrial Development and Investment Promotion, and Abdelmalek Boudiaf, Minister for Health, Population and Hospital> Reform.
At the ceremony, Sanofi and the Algerian Health Minister also signed a letter of intent stating their intention to execute, before December 31 2013 an agreement to improve the screening and assessment of cardiovascular risk, diabetes, and hyperlipidemia and the evaluation of their common risk factors in the Algerian population together with influenza monitoring. The agreement's objective will to promote the awareness, screening and therapeutic education of the Algerian public through a mobile medical clinic and aid in the training of health professionals.
"I am very pleased to celebrate groundbreaking of Sanofi new industrial site in Algeria. It represents an investment of nearly 70 million euros (6.6 billion Dinars) and will become the largest Sanofi industrial site in Africa. This investment crowns more than twenty years of our commitment to Algeria," said Christopher A. Viehbacher, Chief Executive Officer of Sanofi. "We are aware that drugs alone are not enough to fight cardiovascular diseases, which is why Sanofi, in collaboration with the health authorities, will be providing solutions for public prevention, screening and education."
The industrial site will cover an area of 6.6 hectares in the pharmaceutical and biotech cluster in the new town of Sidi Abdellah. It will primarily produce both dry and liquid pharmaceutical forms, and will house a distribution center. The site will have a production and distribution capacity of 100 million units a year, which is approximately 80% of the volume distributed by Sanofi in Algeria. This site will also create 133 skilled jobs. The site construction, including the commissioning of the plant, will take an estimated three years to complete. Sanofi has been present in Algeria for over 20 years and is the pharmaceutical market leader. The company has two manufacturing sites, in Ain Benian and Oued S'mar.
Sanofi, an integrated global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking
statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Sanofi's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the absence of guarantee that the product candidates if approved will be commercially successful, the future approval and commercial success of therapeutic alternatives, the Group 's ability to benefit from external growth opportunities, trends in exchange rates and prevailing interest rates, the impact of cost containment policies and subsequent changes thereto, the average number of shares outstanding as well as those discussed or identified in the
public filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December 31, 2012. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.
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