Sanofi to enhance synergy with China’s pharma market

Strong operations: The Sanofi headquarters in Paris. Sanofi has built three manufacturing sites in China – in Beijing, Hangzhou in Zhejiang province, and Shenzhen in Guangdong province. — Bloomberg

BEIJING: French pharmaceutical company Sanofi will accelerate the modernisation of its manufacturing sites and research network in China to better integrate these into its global industrial system, a senior company executive says.

The company will also reform its medical practices and share revolutionary new drug research and development and manufacturing technologies, innovative therapies and new drugs with China, to contribute more to the development of China’s pharmaceutical industry through cross-border integration, Wayne Shi, president of Sanofi Greater China, told China Daily.

“With deep roots in China for over 40 years, Sanofi is chasing the miracles of science to make continuous breakthroughs in digital innovation and local research and development (R&D), and aiming to be a ‘local-multinational’ pharmaceutical company,” he said.

“We have always been optimistic about the Chinese market and will continuously expand our investment in China.”

China is Sanofi’s second-largest market, behind only the United States, and revenue from China in 2022 reached about €3.12bil (RM16bil), up 6.2% year-on-year.

Thanks to China’s fast-expanding market, unwavering commitment to opening-up and emphasis on innovation and high-quality development, the country has become increasingly important, both as a consumer market and as an indispensable link in the global industrial and supply chains of multinational companies, experts said.

According to a report by R&D-based Pharmaceutical Association Committee, China’s sustained opening-up has attracted an increasing number of multinational pharmaceutical companies to expand their investments in both coastal cities and interior regions. — China Daily/ANN

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