E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/10/2006 in the Prospect News Biotech Daily.

Sanofi-aventis to construct new R&D facility in Arizona

By Lisa Kerner

Erie, Pa., April 10 - Sanofi-aventis said it has purchased 11.54 acres of land in Innovation Park, Oro Valley, Ariz., where the company plans to build a new 100,000-square-foot research and development center beginning early next year.

Financial details of the agreement were not disclosed, according to a company news release.

The new building, about twice the size of Sanofi-aventis' current facility in Oro Valley, will be located in a 300-acre high-tech campus near Tucson.

"The new site was chosen because it can accommodate our growing needs for a more flexible and integrated space," senior vice president Porter McMillian said in the release.

"In addition, we are pleased to stay in Oro Valley and be a part of the biotech growth."

Sanofi-aventis said 65 employees are expected to move into the new facility by the end of 2008, with 20 additional scientists to be added in the next three to five years.

Sanofi-aventis is a global pharmaceutical company based in Paris.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.