French pharmaceutical company Sanofi has pledged a large-scale investment in the United States. This is a response to U.S. President Donald Trump's announcement of drug tariffs.
According to Reuters, Sanofi announced on the 15th (local time) that it plans to invest at least $20 billion (about 28 trillion won) in the United States by 2030 to enhance its manufacturing and research and development capabilities.
Sanofi is one of the world's largest vaccine manufacturers and a leader in the field of anti-inflammatory drugs.
The United States is Sanofi's largest market. In the first quarter of this year, the U.S. accounted for approximately 47% of Sanofi's total revenue.
Sanofi stated that this investment would significantly increase its research and development expenses in the United States, noting that 'many high-paying jobs will be created in several states moving forward.'
President Trump instructed the Department of Commerce last month to investigate the impact of drug imports on national security under Section 232 of the Trade Expansion Act.
On the 5th, he hinted that 'item-specific tariffs on drugs will be announced within the next two weeks.'
While the specifics, such as tariff rates, remain uncertain, it is reported that the pharmaceutical industry is actively lobbying for phased tariff implementation. Along with this, they are also announcing investment plans in the United States.
British multinational pharmaceutical company AstraZeneca announced plans to invest $3.5 billion (about 4.9 trillion won) in research and manufacturing in the United States last November.
Other major pharmaceutical companies such as Roche, Novartis, Eli Lilly, and Johnson & Johnson have also recently promised large-scale investments.