Pfizer & AstraZeneca to Invest $1 Bn in France to Advance Healthcare Access

The investment pledges from Pfizer and AstraZeneca come as President Emmanuel Macron gears up to host the 'Choose France' event, which aims to attract foreign businesses and investors. 

In a significant move for the healthcare sector, pharmaceutical giants Pfizer and AstraZeneca have pledged substantial investments in France. Pfizer, listed on the New York Stock Exchange as PFE, announced its decision to inject 500 million euros ($538.5 million) into the country's research and development sector. 

Meanwhile, AstraZeneca, trading on NASDAQ as AZN, revealed its plan to invest $388 million in its Dunkirk site. These investments were unveiled just before the annual 'Choose France' business summit, showcasing a positive outlook towards France's business environment.

Sharing insights, a Pfizer spokesperson said, "We are pleased to announce our substantial investment in France, reaffirming our dedication to promoting innovation and propelling healthcare progress. This investment will enhance our research and development capabilities in the country, supporting the creation of transformative therapies."

President Macron's 'Choose France' Initiative

The investment pledges from Pfizer and AstraZeneca come as President Emmanuel Macron gears up to host the 'Choose France' event, which aims to attract foreign businesses and investors. 

This initiative aligns with Macron's vision to bolster Paris' standing as a premier European business hub, striving to compete with global counterparts like New York and London.

Echoing similar sentiments, AstraZeneca reiterated its commitment to enhancing its footprint in France. "Our decision to invest in the Dunkirk site reaffirms our unwavering dedication to propelling healthcare advancements and catering to patients on a global scale," expressed a spokesperson from AstraZeneca. "We are eager to harness France's abundant talent pool and robust infrastructure to foster innovation and tackle the pressing challenges in healthcare."

Global Collaborations & Strategic Partnerships

In addition to their investments in France, Pfizer and AstraZeneca have actively engaged in global collaborations to drive healthcare innovation. Pfizer recently partnered with the National Institute of Pharmaceutical Education & Research (NIPER), Ahmedabad, as part of its INDovation program. This collaboration aims to support healthcare startups in India, fostering indigenous solutions aligned with the nation's healthcare priorities.

Meanwhile, AstraZeneca disclosed its equity investment with Cellectis, a clinical-stage biotechnology company. With this investment, AstraZeneca now holds a significant stake in Cellectis, reflecting its commitment to advancing cell and gene therapy products. This collaboration aims to address critical medical needs in oncology, immunology, and rare diseases, leveraging Cellectis' gene editing technologies and manufacturing capabilities.

Additionally, AstraZeneca acquired Fusion Pharmaceuticals, a Canadian specialist focused on next-generation cancer therapies, for $2.4 billion (£1.9 billion). This move aims to bolster AstraZeneca's cancer treatment portfolio. Fusion Pharmaceuticals develops next-generation radioconjugates & offers alternatives to traditional chemotherapy and radiotherapy.