AstraZeneca's $570 Million Investment in Canada: Driving Expansion and Job Growth

AstraZeneca, a global pharmaceutical company, has announced a significant investment of $570 million in Canada, aiming to drive expansion and create new jobs in the country. The investment, which is part of the company's global strategy to achieve $80 billion in Total Revenue and bring 20 new medicines to patients by 2030, will support the move to a larger, state-of-the-art office facility in the Greater Toronto Area (GTA), Ontario.



The investment will create more than 700 high-skilled jobs across all areas of the business, contributing to the growth of Canada's life sciences sector and the advancement of AstraZeneca's global clinical studies pipeline. This expansion aligns with the company's growing clinical pipeline and its strong belief in Canada's potential as a global hub for life sciences innovation.



AstraZeneca's investment in Canada is also a result of public-private collaboration with the Ontario government. The Government of Ontario contributed $16.1 million through the Invest Ontario program to support AstraZeneca's expansion, creating hundreds of new, highly-skilled jobs in the province. This collaboration helps AstraZeneca achieve its global revenue and new medicine targets while also driving economic growth and innovation in Canada.

The investment also follows AstraZeneca's acquisition of Hamilton, Ontario-based Fusion Pharmaceuticals in 2024. The acquisition, which represents one of the largest research investments made in a Canadian biotechnology company, further strengthens AstraZeneca's position in the life sciences sector. Fusion Pharmaceuticals is developing next-generation radioconjugates with the promise to redefine radiotherapy for cancer patients, aligning with AstraZeneca's global strategy to bring innovative medicines to patients worldwide.



AstraZeneca's investment in Canada is a testament to the country's growing importance in the global life sciences landscape. The investment will contribute to the company's global ambitions, drive economic growth, and foster innovation that benefits patients in Canada and around the world. As AstraZeneca continues to expand its presence in Canada, the country's life sciences sector is poised to grow and thrive.