Sanofi makes Efforts to Improve its Presence in Diabetes Market
A cutting-edge plant in a leafy suburb of Frankfurt churns out up to one million insulin every day. It is a part of French drug maker's Sanofi's drive to not lose its no. 2 spot in the $43 billion-a-year diabetes market.
The facility is also called as Insulin City. It aims towards research and development, production and developing advanced technology for diabetes treatments. According to Sanofi, this will enable them to boost their growth as older blockbusters lose patent protection.
Christian Lerche, head of R&D project direction at Sanofi's diabetes unit, told Reuters that more than one billion dollar has been spent on the site. He added that the site reflects their dedication for development of best treatments for diabetes.
It can be considered as a critical moment for Lerche and his colleagues because a recent products setback has been suffered by arch-rival and market leader Novo Nordisk in the U. S. All the big players are trying to secure their place in a fast-growing global market because the total number of diabetes sufferers is estimated to soar over half a billion by 2030.
Snaofi shares have performed very well in the European drugs sector in past 12 months. The company is expected to come up with new growth drivers in diabetes to cope with loss of patent protection on older medicines.