Sanofi bets on rapid expansion in China

Sanofi, one of the world's largest drug makers, expects double-digit growth in China over the next five years as it further penetrates county-level markets and expands capacity.

Christopher Viehbacher, the French firm's chief executive, said the growth of sales in China may slow, considering the large base it has established in the country and the uncertain macroeconomic environment. But growth is still expected to remain in the double digits, he said.

Sanofi achieved sales of more than €1 billion (HK$9.95 billion) in China last year, up 15 per cent from the year before.

"The China market will be a priority for us," Viehbacher said at a media briefing in Beijing yesterday. "We will continue to expand geographically, launch new products and look for more acquisition opportunities."

He said Sanofi plans to open four factories on the mainland this year, including a pharmaceutical factory, a consumer health care products plant in Hangzhou, Zhejiang province, an animal care products plant in Nanchang, Jiangxi province, and a vaccines factory in Shenzhen.

The company, a rival of US drug maker Pfizer and Britain's GlaxoSmithKline, has had a tough time since the patents on two of its major drugs expired last year.