Sanofi to invest €350 million in Canadian vaccine facility

Sanofi (EPA:SAN) is investing €350 million (CAD $500 million) for the construction of a new state-of-the-art vaccine manufacturing facility at the Sanofi Pasteur Canadian headquarters in Toronto, Ontario. The investment bolsters the company’s Canadian operations and its commitment to advancing public health around the world.

As quoted in the press release:

The announcement will be made during an event today at Sanofi Pasteur’s Toronto facility. Attendees will include the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, Government of Canada, the Honourable Steven Del Duca, Minister of Economic Development and Growth, Government of Ontario, and members of Sanofi’s executive leadership.

“Canada has a strong legacy in the research and development of vaccines.  With this investment, Sanofi is renewing our longstanding commitment to making Canada central in our effort to protect and improve human health across the globe,” said David Loew, Executive Vice President and Head of Sanofi Pasteur. “Vaccines save three million lives every year and this new facility will take us one step closer to a world where no one suffers or dies from a vaccine-preventable disease.”

Click here to read the full press release.