AstraZeneca plans C$820 million investment in Canada
Pharmaceutical giant AstraZeneca announced an investment of C$820 million in Canada on Wednesday. The plan is expected to create over 700 new high-skilled jobs.
AstraZeneca, a global pharmaceutical company, announced on Wednesday a planned investment of C$820 million (US$570 million) in Canada. The investment is intended to support the company's growing global hub and clinical delivery operations within the country.
The investment includes the creation of over 700 new high-skilled jobs, primarily in the Greater Toronto Area, Ontario, where AstraZeneca will also move to a larger, state-of-the-art facility. This expansion aligns with AstraZeneca's global ambitions to achieve US$80 billion in total revenue and deliver 20 new medicines to patients worldwide by 2030.
This initiative builds on AstraZeneca's existing presence as a significant research and development investor in Canada. The company invested over C$230 million in Canadian R&D in 2023. Since 2023, total investments in Canada exceed C$1.3 billion, creating a combined 1,200 new high-skilled jobs. This follows AstraZeneca's acquisition of Canadian biotechnology firm Fusion Pharmaceuticals in 2024.
The announcement was supported by the Government of Ontario, which is contributing C$16.1 million through its Invest Ontario program. AstraZeneca currently employs over 2,100 people in Canada and is leading more than 210 global clinical studies across various therapeutic areas.