The FINANCIAL — Sanofi SA expects double-digit growth in China in the coming five years, according to the French drug maker's Chief Executive Christopher Viehbacher.
Sanofi will expand its animal health and vaccine business in China this year which will boost sales beyond the 1 billion-plus euro ($1.28 billion) sales last year, Mr. Viehbacher said. Sales jumped 15% last year, the company added without breaking down further country-level detail, according to Borsa Italiana Spa.
It will open four factories in 2013 and increase pharmaceutical, consumer health-care product, animal-care product and vaccine production, Mr. Viehbacher said. The company wants to move to smaller cities as the government builds more hospitals and clinics, Mr. Viehbacher said.
"China will continue to be a key market for growth," Mr. Viehbacher said.
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