The largest pharmaceutical company of France, Sanofi is now breaking ground for a US$75 million plant in Vietnam. The move is designed to maximize the rising income and thus higher demand for health care in Asia.
Sanofi has already invested nearly US$90 million in Vietnam in the last fifty years. The new factory would have an initial production capacity of 90 million units when it opens operations by the end of 2015 and then increased to 150 million units.
According to Sanofi CEO Chris Viehbacher, "Asia continues to grow and it seems to be less affected by the European economic difficulty, compared with other regions in the world. A lot of trading going on among Asian countries."
Sales from Vietnam is climbing 25% annually and is the fastest climbing in Asia according to Cyril Grandchamp-Desraux, GM of Sanofi Vietnam, Cambodia and Laos. The value exceeded Eur100 million or US$128 million this year.
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