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Our latest analysis, Not every hotspot is a lab, looks at the buildings behind the deals in the 20 locations that have recorded activity every year since 2022. Labs dominate in university cities such as Cambridge, Oxford and Leiden, while production accounts for around half of deals in Galway, Limerick and Cork.
We have 12 deals this week, taking in Sanofi's groundbreaking for its nearly €2 billion insulin plant in Frankfurt and Primary Health Properties' £700 million private hospital joint venture with GIC. Let's dive into it.
In today's free edition:
🇩🇪 Sanofi starts nearly €2 billion Hesse insulin plant
🇬🇧 PHP and GIC form £700 million hospital joint venture
🔒 For paying members only:
🇮🇪 Dexcom completes €300 million Connacht glucose monitor plant
🇳🇱 Council backs €100 million campus expansion in North Brabant
🇩🇪 Analytik Jena opens €96 million Thuringia buildings
🇬🇧 DTZ Investors buys Spire-let hospital in Scotland
🇮🇪 Bon Secours buys Leinster site for private hospital
🇫🇷 Kadans completes 15,000 sq m Île-de-France research building
🇧🇪 €20 million life sciences district planned in Limburg
🇩🇪 Dräger leases 1,100 sq m at Saxony campus
🇪🇸 Sysmex moves headquarters in Catalonia
🇬🇧 PHP converts South West outpatient unit for GPs
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Stephen Ryan
🇩🇪 Sanofi breaks ground on nearly €2 billion insulin plant in Frankfurt
Sanofi has broken ground on a new insulin manufacturing facility at its BioCampus in the Industriepark Höchst, Frankfurt, an investment of nearly €2 billion, up from €1.3 billion when it was announced in 2024.
The plant, on a 36,000 sq m footprint, will replace existing insulin production and use automation, digital technologies and artificial intelligence.
Construction is due to finish in 2029, with full production of insulin active pharmaceutical ingredient planned for 2032.
The German government, the State of Hesse and the City of Frankfurt are providing €400 million in support, approved by the European Commission in September.
The BioCampus already covers the full insulin value chain, from active ingredient production to filling, device assembly and packaging.
🇬🇧 PHP forms £700 million private hospital joint venture with GIC
Primary Health Properties (PHP) has agreed to form a 50/50 joint venture with Singaporean sovereign wealth fund GIC, seeded with 27 private hospitals, valued at about £700 million, from its portfolio.
The properties will transfer at a 5 per cent discount to PHP's book value at 31 December 2025. PHP will manage the portfolio, which has a WAULT of 22 years.
The REIT expects immediate cash proceeds of about £500 million, net of its retained equity interest and deferred consideration of £47.5 million.
It will use the proceeds to repay the Assura acquisition bridging loan and a £266 million term loan, reducing net debt to about £2.9 billion.
Completion, targeted for November 2026, depends on closing a new secured club debt facility.
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