Sanofi (EURONEXT: SAN and NYSE: SNY) announced today it will invest €44m in Genzyme’s biotechnology campus in Waterford, Ireland. The investment will increase the site’s diversity of products by adding the filling of Sanofi’s Lantus® (insulin glargine), the number one insulin brand worldwide. Subject to regulatory approvals, commercial production of Lantus® at Waterford should commence in 2016. The investment is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
Visiting the site in Waterford today, Richard Bruton TD, the Minister for Jobs, Enterprise & Innovation, said: “Healthcare is a key sector targeted in the Irish Government’s Action Plan for Jobs, and we have implemented a number of measures in 2012 to make it easier for indigenous and multinational companies in this sector to succeed and expand in Ireland. 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 southeast region more generally. 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. I am determined to continue, together with IDA Ireland, working closely with Genzyme and Sanofi to support their continued success in the southeast.”
Announcing the investment with Minister Bruton in Waterford, Dr. Martin Siewert, Vice President, Industrial Affairs, Pharmaceutical Injectables, Sanofi, said: “Since acquiring Genzyme almost two years ago, we have been continually impressed with the record of achievement at the Waterford site and with the positive and proactive approach taken by the site leadership. The entire Waterford team has shown great flexibility, professionalism and commitment, all valuable traits in a world-class manufacturing environment.”
Dominic Carolan, Managing Director, Genzyme Ireland, said of the Sanofi announcement: “This represents a further major endorsement of the capability built up at the Waterford operation since 2001 and is evidence of Sanofi’s commitment to the location and the confidence that exists in what Waterford can deliver. The team here should be proud of this achievement and their continued efforts.”
In welcoming the decision, Pat O’Sullivan, General Manager, Genzyme Waterford, said: “This substantial investment and the introduction of Sanofi product to our facility provide an excellent platform for future sustainability.
“Winning this investment is a result of two main factors – our current site organisation and the reputation earned by Waterford over more than a decade – both of which are very much about our people. We have said consistently, since the 2011 acquisition, that Sanofi’s scale and global reach across more than 170 countries presents many opportunities for us and this project very much supports that outlook.”
Barry O’Leary, CEO, IDA Ireland, added: “This is the type of value-adding development and manufacturing investment that we are focused on winning for Ireland at an international level. Competition for projects such as this is intense and securing this additional investment in the site’s capability and capacity is a testament to the Genzyme team at Waterford. At a macro level, the Sanofi decision represents a very positive result for Waterford and Ireland, fitting with the IDA Ireland focus on the life sciences as a key growth area.”
More than 500 people are employed at Genzyme Waterford, which will continue to produce Genzyme products for patients living with rare genetic diseases, kidney disease and cholesterol management requirements. Shipped to more than 70 countries, these include Myozyme ®, Lumizyme ®, Cerezyme ®, Thymoglobulin ®, Cholestagel ®, Renvela ® and Renagel ®.
Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
About Genzyme, a Sanofi company
Genzyme has pioneered the development and delivery of transformative therapies for patients affected by rare and debilitating diseases for over 30 years. We accomplish our goals through world-class research and with the compassion and commitment of our employees. With a focus on rare diseases and multiple sclerosis, we are dedicated to making a positive impact on the lives of the patients and families we serve. That goal guides and inspires us every day. Genzyme’s portfolio of transformative therapies, which are marketed in countries around the world, represents groundbreaking and life-saving advances in medicine. As a Sanofi company, Genzyme benefits from the reach and resources of one of the world’s largest pharmaceutical companies, with a shared commitment to improving the lives of patients. Learn more at www.genzyme.com.