6. October 2011 16:01
Sanofi Pasteur has invested $300 million in plans to open a new vaccine manufacturing plant in India by March 2012.
The new plant aims to help expand the company’s vaccine capabilities, following the acquisition of India’s Shantha Biotech for $784 million in 2009.
However, the deal carried manufacturing defects forced by the WHO to cancel pre-qualification of the vaccine Shan5, costing Sanofi hundreds of millions of dollars.
But Chris Viehbacher, CEO of Sanofi, said to the Business Standard: “We have implemented all the corrective measures. And we are quite positive about the relationship with Shantha and will be participating in global tenders once the pre-qualification process is completed for low-cost and high-quality vaccines.”
By 2015, Sanofi expects 30% of its total sales to come from the US, 33% from Europe and the rest from emerging markets.