French drug firm Sanofi expects its new plant in HCM City to begin production in the third quarter. — File Photo

HCM CITY (Biz Hub) — French drug firm Sanofi expects its new plant in HCM City to begin production in the third quarter.

Eric Ng, who was recently appointed general manager of Sanofi Indochina, told local media yesterday that the US$75 million plant in the Saigon High-Tech Park in HCM City's District 9 is his company's largest ever investment anywhere and also the most significant foreign investment in the Vietnamese pharmaceutical industry.

The plant will also house a research and development centre, which will focus on new formulations using existing compounds.

"It will efficiently meet the fast growing demands of the local market and serve as an export platform to Asian ones, including demanding markets like Hong Kong and Japan," Ng said. — VNS