Sanofi’s multi-billion investment plans in Frankfurt are now official: the French pharmaceutical group will invest around 1.3 billion euros in the construction of a modern insulin production plant at its Frankfurt site by 2029. Höchst district of Frankfurt, the company announced on Thursday. The high-tech insulin factory is planned to be built by 2029 and several hundred specialists are expected to work there.
EU still examines financial support
The new production, with an area of around 36,000 square meters – or around five football fields – is to replace the current production facility. The federal government, the state and the city had committed to Sanofi remaining in Frankfurt and had hinted at subsidies for the new factory. The amount of funds still depends on the outcome of an EU aid procedure.
As part of the global search for a location, Frankfurt was chosen because it offers the best political conditions, said Sanofi spokesperson Stefan Dietrich. In addition, Frankfurt has over a hundred years of expertise in insulin production and highly qualified personnel.
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Sanofi builds new factory in Frankfurt-Höchst
Minister President Boris Rhein (CDU) and Economy Minister Kaweh Mansoori (SPD) considered the previous negotiations and the decision a success for their own economic policy. Rhein said on Thursday that Hesse would thus become the center of gravity for insulin production in Europe. The investment is “a strong signal for our pharmaceutical location and a new milestone for our medicine sovereignty and our export strength in Germany.” Mansoori emphasized that the health care of the people of Germany and Hesse would become more crisis-resistant and more independent.
Frankfurt Mayor Mike Josef (SPD) also welcomed the decision as “great news”. Additional industrial jobs will thus be guaranteed.
A turnover of several billions with insulin
The Frankfurt-Höchst site is already one of Sanofi’s largest factories with around 6,600 employees, of which almost 4,000 are directly or indirectly involved in insulin production. The diabetes drug Lantus is produced in Höchst, with which Sanofi recently achieved an annual turnover of several billion.
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The group employs more than 86,000 people worldwide. Recently, Sanofi is said to have considered relocating insulin production to France. In July, the Handelsblatt newspaper reported that Sanofi would probably stay in Frankfurt and – contrary to what had been feared in the meantime – would not withdraw from Hesse. With the official confirmation on Thursday of the investment of several billions in the Rhine-Main region, the initial plans are now definitively abandoned.