French finance minister criticises Sanofi’s $20 billion USA investment decision

PARIS (Reuters) -France’s finance minister criticised on Thursday a decision by French drugmaker Sanofi (NASDAQ:SNY) to invest at least $20 billion in the United States through to 2030, as France aims to get more companies investing in the country rather than abroad.

"It’s clear it was not something that was nice to see and it was an unpleasant announcement," finance minister Eric Lombard told BFM Business TV.

"It sends out a bad signal," he also said, adding he hoped Sanofi would continue to invest in France.

The French drugmaker, one of the world’s largest vaccine makers and a leader in anti-inflammatory drugs, said on Wednesday that it planned to expand its U.S. manufacturing capacity through direct investments in Sanofi sites, and partnerships with other domestic manufacturers.

Sanofi’s decision was the latest one from leading drugmakers which have been expanding their U.S. presence in response to President Donald Trump’s trade policies.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.SNY: A Bull or Bear Market Play?

Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year..In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies.So if SNY is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

Unlock ProPicks now