Sanofi (France) (SAN.PA) to Invest $75 Million in Plant in Vietnam
3/29/2013 7:19:58 AM
Sanofi (SAN), France’s biggest drugmaker, will start building a $75 million plant in Vietnam as rising income and urbanization bolsters demand for health care in Asia. The company, which has been in the country of nearly 90 million for more than 50 years, will produce at an initial capacity of 90 million units per year at the new facility when it starts operations by the end of 2015 and may later extend to 150 million units, according to an e-mailed statement. It currently runs two plants in Ho Chi Minh City at full capacity, according to Sanofi Chief Executive Officer Chris Viehbacher. “Asia continues to grow and it seems to be less affected by the European economic difficulty” compared with other regions in the world as there’s “a lot of trading going on among Asian countries,” Viehbacher said in an interview yesterday in Hanoi.