Tuesday, May 14, 2024

Polaris of Enlightenment

Tuesday, May 14, 2024

Polaris of Enlightenment

Pharmaceutical giants invest billions in France

Published today 11:37
- By Editorial Staff
Pfizer and Astra Zeneca were two of the most dominant vaccine manufacturers during COVID-19.

Pfizer and Astra Zeneca were two of the most dominant players during the coronavirus mass vaccination program. Now they are announcing that they intend to increase their presence in France, spending nearly a billion dollars together to do so.

According to Reuters, Pfizer will invest around $538 million to build up its research and development in France – while Astra Zeneca will invest around $388 million in its facility in Dunkirk in northern France.

The investment promises come in the context of President Emmanuel Macron’s “Choose France” event, which aims to attract major foreign players and investors to locate their production and investments there.

This weekend, for example, Wall Street bank Morgan Stanley announced that it too will focus on Paris, and that it intends to hire 100 new employees there. The German airline Lilium has also promised major investments.

According to the news agency, Macron wants Paris to be considered one of the top “business capitals” in the world, although New York and London have historically held these roles.

In a survey published earlier this spring, New York was again ranked as the world’s top financial center with London second, followed by Singapore and Hong Kong – while Paris was ranked 14th, behind both Washington DC and Frankfurt.

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