Sanofi on Wednesday said it will invest at least $20 billion in the United States through 2030.
The expected investment includes a significant increase in the pharma giant’s research and development spending and the allocation of billions of dollars to U.S. manufacturing.
The company, which recently relocated its U.S. headquarters from Bridgewater to Morristown, didn’t say how much of that will represent new investments versus previous commitments.
“Sanofi’s 13,000 US-based employees are pioneering the research and development of first- and best-in-class medicines across numerous therapeutic areas. Our expected investments in the US will be substantial and will help ensure the production of key medicines in the US,” Paul Hudson, chief executive officer said.
While Sanofi’s investment decisions will be adjusted as the external environment continues to evolve, the company said the planned investments are expected to create a significant number of high-paying jobs in multiple states in the coming years the company said.
