PARIS (Reuters) – French healthcare group Sanofi (SASY.PA) is investing 350 million euros ($432.4 million) in a Canadian vaccine facility, which the drugmaker said would help it meet growing demand in this area.

FILE PHOTO: A logo is seen in front of the entrance at the headquarters French drugmaker Sanofi in Paris October 30, 2014. REUTERS/Christian Hartmann/File Photo

Sanofi’s new investment will finance the construction of a new state-of-the-art vaccine manufacturing facility at the Sanofi Pasteur Canadian headquarters in Toronto, Ontario.

The new facility would allow its Sanofi Pasteur division to meet the growing demand of five-component acellular pertussis (5-acP) antigen, the company added.

Sanofi sealed two major takeovers at the start of 2018, buying hemophilia specialist Bioverativ for $11.6 billion and acquiring Ablynx, which is developing a prized experimental drug for a rare blood disorder, for 3.9 billion euros ($4.8 billion).

Reporting by Sudip Kar-Gupta; Editing by Sunil Nair

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