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Pfizer and AstraZeneca are making a significant mark in France’s research landscape with a nearly USD 1 billion investment, showcasing their confidence in the country’s potential for healthcare innovation at the ‘Choose France’ business summit.
Image Source: The Royal Australian College of General Practitioners (RACGP)
Leading pharmaceutical companies Pfizer and AstraZeneca have unveiled ambitious investment plans for France, collectively amounting to nearly USD 1 billion. Pfizer, with a commitment of 500 million euros (USD 538.5 million), aims to bolster its research and development initiatives within the country. Meanwhile, AstraZeneca has announced a substantial investment of USD 388 million in its Dunkirk site.
Image Source: Financial Times
Image Source: Reuters
These significant pledges come on the eve of the annual ‘Choose France’ business summit, signaling a vote of confidence in the French economy. President Emmanuel Macron, poised to inaugurate the event, views it as a strategic platform to attract prominent international businesses and investors.
In tandem with these pharmaceutical investments, France has also witnessed other notable developments, including the creation of 100 new jobs in Paris by Wall Street giant Morgan Stanley and commitments from firms such as German aviation company Lilium.
Macron’s ambition to elevate Paris as a premier European business hub is underscored by these recent initiatives. While traditionally lagging behind global financial centers like New York and London, Paris aims to enhance its competitiveness. Despite its 14th position in the Z/Yen survey of global financial centers, published in March, the French capital is actively positioning itself for growth and investment in the pharmaceutical and financial sectors alike.
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