Sanofi (France) (SAN.PA) to Invest $59.3 Million in Genzyme Corporation (GENZ)'s Waterford Campus  
2/13/2013 7:39:58 AM

Global healthcare giant Sanofi says it will invest €44m to expand on the manufacture of its insulin products at the Genzyme biotech plant in Waterford where some 500 people are employed. Subject to regulatory approvals, commercial production of Lantus, the No 1 insulin brand at Waterford, should commence in 2016. The IDA-supported investment comes on the heels of a major €150m investment announced last year. “Today’s announcement that Sanofi, a world-leading company in this sector, is investing a further €44m is a major vote of confidence in its Waterford site which employs over 500 people and in the south-east region more generally,” Ireland’s Jobs Minister Richard Bruton, TD, said. “This investment, which comes on top of a €150m investment little more than a year ago, will ensure that this facility can produce the company’s latest product and provides an indication of the Waterford site’s strategic value.”