AstraZeneca to invest $500 million in France

Jan. 21, 2020

AstraZeneca have announced a five-year, $500 million investment in France during the French government’s “Choose France” event to promote business in the country.

French President Emmanuel Macron attempted to sell the benefits of the country at the Palace of Versailles, where nearly 150 international business leaders met. Macron said that its reforms were attracting investors despite six weeks of protests and walkouts over his plan to overhaul the retirement system.

According to AstraZeneca, this investment will help the organization build scientific collaborations in France and ensure its global manufacturing site in Dunkirk can meet the needs of the business through a new European Innovation Hub.

The investment includes $230 million through 2025 to help build a stand-alone assembly line and two assembly and packaging lines and modernization of existing equipment.

It also plans to invest $275 million in research in development and will set aside $15 million for the opening of a European Innovation Hub in Paris.

Read the Bloomberg report