PARIS (Reuters) -France’s finance minister criticised on Thursday a decision by French drugmaker Sanofi to invest at least $20 billion in the United States through to 2030, as France aims to get more companies investing in the country rather than abroad. “It’s clear it was not something that was nice to see and it was […]
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French finance minister criticises Sanofi’s $20 billion USA investment decision
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PARIS (Reuters) -France’s finance minister criticised on Thursday a decision by French drugmaker Sanofi to invest at least $20 billion in the United States through to 2030, as France aims to get more companies investing in the country rather than abroad.
“It’s clear it was not something that was nice to see and it was an unpleasant announcement,” finance minister Eric Lombard told BFM Business TV.
“It sends out a bad signal,” he also said, adding he hoped Sanofi would continue to invest in France.
The French drugmaker, one of the world’s largest vaccine makers and a leader in anti-inflammatory drugs, said on Wednesday that it planned to expand its U.S. manufacturing capacity through direct investments in Sanofi sites, and partnerships with other domestic manufacturers.
Sanofi’s decision was the latest one from leading drugmakers which have been expanding their U.S. presence in response to President Donald Trump’s trade policies.
(Reporting by Sudip Kar-Gupta;Editing by Benoit Van Overstraeten)