Sanofi Regeneration of Former Dagenham Plant Nears Completion
Dagenham, United Kingdom – 2 July, 2015 – Sanofi (EURONEXT: SAN and NYSE: SNY) announced today that the regeneration initiative at its former manufacturing plant in Dagenham, East London, which closed in 2013, is nearing a successful conclusion following the sale of 25 acres of land to AXA Real Estate for an undisclosed sum.
The acquisition by AXA Real Estate, on behalf of one of its clients, is expected to involve the land being developed for a scheme which will generate jobs.
Jim Moretta, former site Leader at Sanofi Dangenham facility said, “This transaction means that we have now successfully delivered on our legacy pledge to ensure the site was sold in a strategic manner to job-creating organisations. This was the key element of our regeneration strategy for Dagenham.”
Sanofi announced the closure of the plant in 2009. The company then embarked on an innovative regeneration programme aimed at transforming the 108-acre site through a strategic sale into a multi-occupancy science, business, manufacturing and retail park. A key element of the master-plan was retention of specialist manufacturing, research and development buildings for use by other science-related companies in a bid to ensure a legacy of new jobs and new business opportunities at the location.
Sanofi also donated more than 50 acres of land including sports fields and the company’s May & Baker Sports & Social Club to London Borough of Barking and Dagenham in a ‘Community Trust’ arrangement to protect the facilities for future use of local residents.
Cheshire-based SOG Group has purchased 17 acres of specialist buildings and land to create Londoneast-UK Business and Technical Park; Sainsbury’s has bought 10 acres at the front of the site for a retail centre; independent brewing and pub retailing business Marston’s has recently opened a pub/restaurant, The Pipe Major, on another acre of land while there are also on-going negotiations on a hotel project which is subject to detailed planning permission being granted.
Mr. Moretta added, “We are close to securing a deal for a hotel on the site and this will be the final transaction needed to complete the successful regeneration programme on the site.”
Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi has core strengths in diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
Sanofi Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Sanofi's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the absence of guarantee that the product candidates if approved will be commercially successful, the future approval and commercial success of therapeutic alternatives, the Group's ability to benefit from external growth opportunities, trends in exchange rates and prevailing interest rates, the impact of cost containment policies and subsequent changes thereto, the average number of shares outstanding as well as those discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December 31, 2014. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.
Sanofi Communications UK & Ireland
Tel.: + 44 (0) 1483 55 4237
PAUL SMITH ASSOCIATES
2nd July 2015