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| Name | Symbol | Market | Type |
|---|---|---|---|
| Sanofi | NASDAQ:SNY | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.46 | -0.93% | 49.00 | 42.19 | 50.80 | 49.595 | 48.97 | 49.48 | 1,113,911 | 05:00:11 |
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By Inti Landauro
PARIS--French pharmaceutical giant Sanofi SA (SAN.FR) and Swiss rival Lonza Group AG (LOON.EB) will invest 290 million Swiss francs ($287.8 million) in a new biologics production plant in the town of Visp in Switzerland.
"The strategic partnership enables Sanofi to react quickly to fluctuations in demand in a short time frame, reinforcing their capability to launch high-quality, next-generation biologic medicines and ensure consistent access for patients," the firms said in a joint statement.
Each company will invest 50% in the project, they said.
Sanofi said about 60% of the new drugs it develops are made up of biologics, including monoclonal antibodies dedicated to key diseases such as cardiovascular, immunology and inflammation, neufology and oncology.
Large pharmaceutical firms like Sanofi are scrambling to get new drugs on the market to replace several best-sellers whose patents have entered or are soon entering public domain.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 27, 2017 02:05 ET (07:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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