The Organization For International Investment

FDI's $400 Billion Secret Ingredient

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16 FDI's $400 Billion Secret Ingredient Cambridge, Mass., is home to some of the world's leading bio-pharmaceutical compa- nies, drawn by the world class educational institutions, hos- pitals and famed innovation ecosystem. Of these, one of the oldest and still the state's largest bio-pharma employ- ers is Sanofi Genzyme, the Specialty Care Global Busi- ness Unit of Sanofi, which has for nearly 30 years developed life-changing therapies for rare diseases, multiple sclero- sis and now for oncology and immunology. Sanofi US is the U.S. subsidiary of France-based Sanofi SA. The company is headquar- tered in Bridgewater, New Jer- sey, and employs 17,000 U.S. workers. Beyond Sanofi Gen- zyme, the company operates several well-known affiliates in the U.S., including Sanofi Pas- teur, Merial and Chattem. Genzyme's success under Sanofi began in 2011, when Sanofi acquired it for $20.1 bil- lion. Just four years later, Sa- nofi Genzyme brought in $4.14 billion in revenue in 2015, up nearly 30 percent from 2014. The company employs 5,000 workers in Mass., working in manufacturing, research and development and Sa- nofi Genzyme's corporate headquarters. Its success has paved the way for additional investment in the state. For example, Sanofi invested and opened a new state- of-the-art research center in Cambridge, housed in an old industrial building that once housed Polaroid Corp. and Ford Motor Co. Now, Sanofi research teams are leaders in key 21st century fields, like cancer biology, biochemis- try and bioanalytics, chemi- cal genetics and proteomics, and pharmacology. This good news has extended beyond Cambridge. In Fram- ingham, Sanofi has continued to invest in manufacturing operations, including a $330 million facility to manufac- ture Fabrazyme, a key thera- py for the treatment of Fabry Disease, an ultra-rare genetic disease. This investment was aided by the Massachusetts Life Science Collaboration, the state's life science de- velopment agency with an investment in the infrastruc- ture of Framingham need- ed to support an advanced bio-manufacturing facility. Sanofi Genzyme's commit- ment to the communities in which its employees live and work is as old as the compa- ny itself. Being an active part of the community has always been a driving force of em- ployees and continues to this day with over 90 non-prof- it partners in Massachusetts. Consistently ranked as one of the top Charitable Givers in Massachusetts, Sanofi Gen- zyme invests in efforts to im- prove access to health care and STEM education. For example, in 2013 Sanofi and Genzyme partnered in a $1 million gift to support stu- dent success programs at the University of Massachusetts Boston's College of Science and Mathematics (CSM). Other programs include the Genzyme Teacher Sabbat- ical program at the Boston Museum of Science that is celebrating its 20th year of partnership. "Genzyme is one of Massa- chusetts' most successful life sciences companies. Now, as Sanofi Genzyme, the com- pany will combine the inno- vation of Genzyme and the international strength of Sa- nofi to ensure that Massachu- setts remains the international leader of life sciences inno- vation" said David Meeker, CEO, Genzyme. Genzyme Center is a twelve-story, 350,000 square foot office building that combines innovative design and cut- ting-edge technology to create an exciting, healthy and productive work- place for more than 900 employees. It is one of the most environmentally re- sponsible office buildings ever built in the United States. Sanofi's acquisition of Genzyme has spurred growth and has paid real dividends for Massachusetts' communities. The company's success is attributed in part to a close working relationship with the state and a business and political environment that continues to pave the way for growth. State investments in M&A can pay off

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