Pfizer, AstraZeneca Pledge Nearly $1 Billion Investments in France
By Jace Dela Cruz
May 12, 2024 11:39 PM EDT
May 12, 2024 11:39 PM EDT
Two major pharmaceutical companies, Pfizer and AstraZeneca, announced on Sunday massive investments in France totaling nearly $1 billion.
(Photo : KENZO TRIBOUILLARD/AFP via Getty Images)
According to Reuters, Pfizer plans to invest 500 million euros ($538.5 million) in France to bolster its research and development operations there. On the other hand, AstraZeneca unveiled an investment of $388 million for its facility in Dunkirk.
These investment commitments came ahead of the 'Choose France' business summit, an annual event to attract foreign businesses and investors. This year's summit will kick off on Monday, and French President Emmanuel Macron will participate.
READ NEXT: FDA Gives Green Light to Pfizer's New Hemophilia B Treatment
The investments by Pfizer and AstraZeneca are a testament to France's growing appeal as a prominent European hub for business and innovation.
In addition to Pfizer and AstraZeneca, France unveiled on Sunday investments from other companies, such as German aviation company Lilium, as well as 100 new jobs at Wall Street bank Morgan Stanley in Paris.
READ MORE: Pfizer Agrees to Pay $93 Million to Settle Lipitor Cholesterol Drug Antitrust Lawsuit
© 2024 VCPOST, All rights reserved. Do not reproduce without permission.
Join the Conversation