AstraZeneca has announced a investment of 820 million Canadian dollars (570 million US dollars) in its research center in Canada. This investment aims to Strengthen its infrastructure and create 700 new highly-skilled jobs in the Greater Toronto Area (GTA)With this push, the company seeks Strengthen its portfolio of innovative medicines and continue to develop new treatments for patients around the world.
The investment will enable AstraZeneca to run more than 210 global clinical trials. These studies will cover both new medicines and new indications. The company is expected to obtain the first results from seven Phase III clinical trials in 2025, an important milestone in its growth agenda.
A larger and more modern global research center
As part of the investment, AstraZeneca will move its operations to larger, more modern facilities in the Toronto region. This move will provide an enabling environment for research and development, a key factor in the company’s expansion plans. The company will also continue its commitment to Research and Development (R&D) in Canada, to which it will allocate more than CAD 230 million in 2023 alone.
Public-private partnership with the Government of Ontario
The Government of Ontario will also play a key role in this expansion. Premier Doug Ford highlighted the importance of such partnerships, announcing that the Provincial government to contribute 16.1 million Canadian dollarsThis collaboration seeks to strengthen Ontario as a leader in the life sciences sector and foster medical innovation.
Since 2023, AstraZeneca has invested more than 1.3 billion Canadian dollars in the country. This figure reflects the company’s continued commitment to developing new therapies, including its acquisition in 2024 of Fusion Pharmaceuticals, a biotechnology company in Hamilton, Ontario. Fusion is developing next-generation radioconjugates, which promise to transform radiation therapy for the treatment of cancer.
The investment in Canada is also part of AstraZeneca's global strategy to achieve $80 billion in total revenue and offer 20 new medicines globally by 2030. They have already launched eight new drugs to date, and hope this expansion in Ontario will help accelerate their global mission.
A long-term vision
AstraZeneca CEO Pascal Soriot stressed Canada's value as a global hub for life science innovation. The company is committed to collaborating with universities and hospitals in the region to drive the development of innovative treatments. According to Soriot, this investment will not only benefit patients in Canada, but also those around the world.
Impact on the community and the scientific sector
The expansion will also have a positive impact on Canada's life sciences ecosystem. The creation of new jobs, along with support from the Government of Ontario, will strengthen the region's scientific infrastructure andwill contribute to the development of therapies for complex diseases, such as cancer and rare disorders.
This is one of the most significant investments in the recent history of the Canadian pharmaceutical sector., and reinforces AstraZeneca’s commitment to innovation and improving global health.
