Sanofi, VNVC Launch Vaccine Manufacturing Facility In Vietnam, Says Report: Retail’s Positive

French pharmaceutical major Sanofi SA (SNY) on Tuesday reportedly launched a vaccine manufacturing facility in Vietnam with Vietnam Vaccine JSC (VNVC). Following the news, Nasdaq-listed shares of Sanofi traded 2% higher in Tuesday’s premarket.

The new facility is designed to produce vaccines for use in Vietnam as well as for export, according to a Reuters report. It added that French President Emmanuel Macron, who is currently visiting Vietnam, witnessed the launch.

The plant spans 2.6 hectares and is situated in Long An. It has received an initial investment of two trillion dong ($77.15 million), the report said, citing a statement from VNVC.

The new facility is slated to produce 100 million vaccine doses annually, although it is unclear which vaccines will be produced.

Operations are expected to begin by 2027-end, the report added.

Sanofi, renowned for its vaccines, reported an 11.4% surge in vaccine sales in the first quarter to €1.3 billion ($1.48 billion). The company’s total sales in the quarter came in at €9.9 billion, marking an increase of 9.7% at constant exchange rate.

Sanofi makes vaccines against RSV lung infection, Polio, Influenza, whooping cough, and Meningitis, among others. The company is also developing and studying a vaccine against Chlamydia.

The company stated that over 500 million people are vaccinated annually with its vaccines worldwide, and it supplies 2.5 million vaccine doses every day.

On Stocktwits, retail sentiment around SNY stayed unmoved within the ‘bullish’ territory over the past 24 hours while message volume remained at ‘high’ levels.

According to Koyfin data, 16 of 21 analysts covering Sanofi rate it ‘Buy’ or higher, while five rate it a ‘Hold’.

SNY stock is up by about 8% this year and by over 8% over the past 12 months.

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