08:36 AM EDT, 05/13/2024 (MT Newswires) -- (Updates to include additional details in the second to fourth paragraphs.)

Sanofi ( SNY ) said Monday that it will invest more than 1 billion euros ($1.08 billion) into three French drug manufacturing facilities as it ramps up production in its home country.

The company said that in Vitry-sur-Seine, it will invest 1 billion euros to develop a new facility to double the monoclonal antibody production capacity of the site.

Sanofi ( SNY ) said 100 million euros will be invested into the Le Trait site in Normandy for the development of new capacity for biologics formulation, filling, device assembly and packaging.

In Lyon Gerland, 10 million euros will be invested for the production of TZield, a biologic for type 1 diabetes, the company said.

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