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Sanofi-Aventis to Invest USD90mn More in China
PowerRating -- Sanofi-Aventis SA (NYSE:SNY), one of the top pharmaceuticals producer in Europe, will additionally pour USD 90 million into China, and an insulin glargine pre-filled injection production line is scheduled to break earth in the Beijing Economic-technological Development Area.
Presently, the company still has great confidence in China's development prospect, so it decides to invest more in such a market with growth potential. Sanofi-Aventis intends to spend a lot of money building or expanding its factories and seeking more partners locally, in accordance with the country's increasing public health demand.
The Sanofi-Aventis CEO Chris Viehbacher also revealed that the European pharmaceutical giant and the Society of Diabetes of Chinese Medical Association would cooperate in a sizable type-2 diabetes gene research, in which about 46,000 diabetes patients and non-diabetes individuals are invited to participate.
So far, Sanofi-Aventis has invested more than USD 300 million in China, hiring over 3,300 employees, and its production bases are dotted in Beijing, Hangzhou, and Shenzhen.
chinajob This entry was posted on April 27th, 2009 at 11:36:16 am by ChinaJob and is filed under Investing in China.