Sanofi will invest $673 million annually in biologic drug development over the next two to three years, reports Reuters.
The drugmaker has already spent $3.7 billion in biologics over the last five years, representing an overall investment of $5.3 billion, according to Philippe Luscan, Sanofi's executive vice president of global industrial affairs.
"In 2012, 43 percent of our pipeline was made of biologics. The figure stood at around 60 percent in 2016 and in 2020, it will increase even more," Mr. Luscan told reporters Wednesday, according to Reuters.
Sanofi's interest in biologics expands beyond research and development investments. The drugmaker partnered with Swiss drug manufacturer Lonza in February to open a $285 million biologics facility in Switzerland by 2020. In March, Sanofi and Regeneron Pharmaceuticals received regulatory approval for its biologic eczema drug Dupixent.
More articles on supply chain:
Medical Design Excellence Awards names top medical devices of 2017
More than 48k bottles of Bristol-Myers' blood thinner recalled over dosing error
Takeda Pharma taps AI platform for drug development