Regeneron Pharmaceuticals Inc. is planning to spend at least $1.5 billion to battle diabetes in people in the United States, according to a document posted on the company’s website.
The company, which is developing a drug to fight Type 1 diabetes, said it was investing in a new diabetes drug development and development lab in San Diego, California.
The lab will help Regeneron develop and produce insulin and other treatments, according the company.
The $1 million investment was made in April, Regeneron said.
The diabetes drug company is the latest in a growing number of drug companies to take advantage of a global pandemic to expand its development efforts in the U.S. Regeneron also has an office in the San Francisco Bay Area.