Sanofi plans to invest around 1 billion euros ($1.05 billion) to build a new insulin production base in Beijing, which will mark the French drugmaker's largest single investment in China, the company said on Monday.

Sanofi SA will invest around 1 billion euros ($1.1 billion) to build a new insulin production base in Beijing, its biggest single investment in China to date and part of a broader push to boost manufacturing capacity in Asia.

The French drugmaker said that the investment of about 1 billion euros will enhance the production and manufacturing of insulin, focusing on serving local diabetic patients.

Shortly after a similarly sized venture from Pfizer, French pharma juggernaut Sanofi has unveiled a major manufacturing outlay in China, marking its biggest investment in the country to date. | Sanofi is laying out roughly 1 billion euros ($1.

The French pharma firm is seeking to increase insulin production in Beijing as trade tensions between the EU and China simmer on.

French pharma giant Sanofi will invest some 1 billion euros ($1.05 billion) to establish a new insulin production base in Beijing, according to the Beijing Economic-Technological Development Area (BDA).

Chinese authorities rolled out the red carpet for French pharmaceutical and healthcare giant Sanofi, which plans to invest around 1 billion euros (US$1.05 billion) to build a new insulin plant in Beijing - the company's single biggest capital outlay in the world's second-largest economy.

Sanofi is one of the world's top producers of insulin, and the China market for treatment of the illness is huge: Some 140 million people in the mainland, nearly 12% of its population, had the illness as of 2021,

French pharma giant Sanofi will invest some 1 billion euros (about 1.05 billion U.S. dollars) to establish a new insulin production base in Beijing, according to the Beijing Economic-Technological Development Area (BDA).