The new investment will create more than 500 jobs and significantly strengthen France’s ability to control the production of essential medicines from start to finish, the company states.
Today the company announced it had discontinued an experimental combination treatment testing a new type of immunotherapy in patients with a severe form of skin cancer after side effects led to high discontinuation.
Seeking ever more efficacious treatments, companies are now eyeing cancer vaccines, which experts say could be more powerful than other immunotherapies and may even provide a preventative measure against certain malignancies.
Tylenol maker Kenvue said that Johnson & Johnson (JNJ.N) will sell its remaining 9.5% stake in the company, about a year after the healthcare conglomerate spun off and listed its consumer health business.
Shionogi said previously it expected the pill, known commercially as Xocova, to deliver $2 billion in annual sales if it secured U.S. approval.
Their investment pledges came as President Emmanuel Macron prepared to kick off today’s annual ‘Choose France’ event aimed at wooing big overseas businesses and investors.