PARIS, June 14 (Reuters) - French drugmaker and healthcare group Sanofi on Wednesday announced plans to invest 600 million euros ($673 million) annually over the next two to three years in the field of biologics, seen as an area with a strong growth potential.
Philippe Luscan, executive vice president of global industrial affairs at Sanofi, told reporters at a media event that the investments would come on top of some 3.3 billion euros already spent in this area in the last five years.
Earlier this year, Sanofi and Swiss manufacturer Lonza said they would spend 270 million euros by 2020 on a new large-scale biologics facility that will produce monoclonal antibodies.
In contrast to most drugs that are chemically synthesized, many biologics are produced using living cells. They are seen as a promising answer in areas such as cardiovascular, neurology and cancer treatments.
$1 = 0.8917 euros Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta