700 new scientific and high-skilled jobs to be
created in Greater Toronto Area,
investing to execute more than 210 AstraZeneca global clinical
studies
MISSISSAUGA, ON, Jan. 23,
2025 /CNW/ - AstraZeneca, a global pharmaceutical
company focused on developing life changing medicines, today
announced a C$820 million
(US$570m) investment in Canada, creating more than 700 high-skilled
jobs, across all areas of the business. The investment will support
the move to a larger, state-of-the-art office facility in the
Greater Toronto Area (GTA),
Ontario.
New investment in Canada will
contribute to AstraZeneca's global ambition to achieve
US$80 billion in Total Revenue and to
bring 20 new medicines to patients around the world by 2030 of
which eight new medicines have already been launched to date. The
Company also expects seven first Phase III clinical trial data
readouts in 2025.
AstraZeneca is one of the leading R&D investors in
Canada, contributing more than
C$230 million in research and
development in 2023, much of which is focused on delivery of over
210 AstraZeneca global clinical studies of new medicines and
indications. The Company's investments in Canada since 2023 now exceed C$1.3 billion, creating a combined 1,200 new
high-skilled jobs. In 2024, AstraZeneca completed a C$3 billion agreement to acquire
Hamilton, Ontario-based Fusion
Pharmaceuticals, which is developing next-generation
radioconjugates with the promise to redefine radiotherapy for
cancer patients. The Fusion announcement represents one of the
largest research investments made in a Canadian biotechnology
company.1 Together these investments are contributing to
the growth of Canada's life
sciences sector and the advancement of AstraZeneca's global
clinical studies pipeline.
Pascal Soriot, Chief Executive Officer, AstraZeneca said: "This
investment is a reflection of our growing clinical pipeline, our
strong belief in Canada's
potential as a global hub for life sciences innovation, and the
value of public-private collaboration with the Ontario government. We believe the diverse
talent pool together with the network of world-class universities,
hospitals, and research centres will help us bring new medicines to
Canadians and patients worldwide."
Doug Ford, Premier of
Ontario said: "Today's
announcement is fantastic news for Ontario and another testament to the
incredible talent, innovation and opportunities our province has to
offer. Our government, through Invest Ontario, is proud to support
AstraZeneca with C$16.1 million to
help bring these hundreds of new, highly-skilled jobs to
Ontario, strengthening
Ontario's position as a global
leader in life sciences and innovation."
Gaby Bourbara, President, AstraZeneca Canada said:
"AstraZeneca's continued investment in Ontario is crucial to advancing innovative
medicines that treat, prevent, and may one day cure complex
diseases like prostate, lung, and breast cancer, as well as rare
diseases. AstraZeneca's investment of C$820
million (US$570m), alongside
the Government of Ontario's
contribution through Invest Ontario, will strengthen the Province's
life sciences strategy, driving economic growth, and foster
innovation that benefits patients in Canada and around the world."
AstraZeneca in Canada
AstraZeneca employs more than
2,100 people across Canada.
Together, AstraZeneca's R&D Hub and the Alexion, AstraZeneca
Rare Disease Development Hub, are leading more than 210 global
clinical studies in areas such as breast, lung and prostate cancer,
COPD, severe asthma, and rare disease. The company was recently
named one of Canada's Top 100
Employers for the second consecutive year.
Notes
AstraZeneca
AstraZeneca (LSE/STO/Nasdaq: AZN) is a
global, science-led biopharmaceutical company that focuses on the
discovery, development, and commercialization of prescription
medicines in Oncology, Rare Diseases, and BioPharmaceuticals,
including Cardiovascular, Renal & Metabolism, and Respiratory
& Immunology. Based in Cambridge,
UK, AstraZeneca's innovative medicines are sold in more than
125 countries and used by millions of patients worldwide. Please
visit astrazeneca.com and follow the Company on social
media @AstraZeneca.
References
- AstraZeneca, Acquisition of Fusion completed, 4 June 2024
Additional Quotes
"Under the leadership of Premier Ford, Ontario continues to be at the forefront of
life sciences innovation. AstraZeneca's investment will not only
support economic growth in Mississauga, but reinforce Ontario's position as a premier destination
for domestic and international biomanufacturers to advance their
research and drive medical breakthroughs."
Honourable Victor
Fedeli
Minister of Economic Development, Job Creation and Trade
"Our government continues to take bold and innovative action to
make it faster and easier for families to connect to life-changing
technology and innovative treatment options. Through our investment
in AstraZeneca Canada's expansion, our government is taking another
step to champion made-in-Ontario
medical innovation to provide more people with the care and
treatment they need, for years to come."
Honourable Sylvia
Jones
Deputy Premier and Minister of Health
"AstraZeneca's continued investment recognizes Ontario's strength as a life sciences
ecosystem and experienced talent needed for global innovative
companies. We are proud to support AstraZeneca in harnessing AI and
data to drive medical breakthroughs and improve healthcare outcomes
for patients around the world."
Jennifer Block
Interim CEO, Invest Ontario
"Today's announcement marks a pivotal moment for both
Mississauga and Ontario's life sciences sector. AstraZeneca's
continued investment is a testament to the power of collaboration
between industry and government, propelling us closer to our goal
of establishing Ontario as a
leader in innovation. This investment creates new opportunities and
strengthens our province's and the City
of Mississauga's future."
Carolyn
Parrish
Mayor, City of Mississauga
"AstraZeneca's investment in Ontario's life sciences sector highlights the
province's growing status as a global hub for healthcare
innovation. This milestone underscores the vital role of industry
in advancing life-saving treatments and the importance of
government-industry collaboration in driving economic growth. It
aligns with Premier Ford's vision for timely access to life-saving
medicines and reinforces Ontario's
commitment to attracting global investment. Innovative Medicines
Canada is proud to celebrate initiatives like this, showcasing
Ontario's potential as a leading
life sciences destination and paving the way for a healthier, more
prosperous future for Canadians."
Dr. Bettina
Hamelin
President, Innovative Medicines Canada
"BIOTECanada welcomes the Government of Ontario's continued support for the life
sciences sector and the government's strong commitment to fostering
innovation, driving economic growth, and improving patient
outcomes. This announcement highlights how strategic investments
and collaboration are growing the value of the biotech ecosystem
with highly skilled jobs and opportunities for Canadian
competitiveness."
Wendy Zatylny
President & CEO, BIOTECanada
"AstraZeneca's continued investment in Ontario's life sciences sector is a testament
to the strength of our innovation ecosystem. The partnership
between AstraZeneca and the Ontario government demonstrates how
industry-government collaboration can accelerate healthcare
innovation. This investment will further help develop the sectors
research capabilities and support Ontario's ambition to become a global leader
in life sciences."
Jason Field
President & CEO, Life Sciences Ontario
"AstraZeneca's continued investment in Ontario's life sciences sector has played an
enormous role in establishing this province as a leader in health
research and clinical trials, bringing highly skilled jobs and
innovative therapies to Ontarians. Today's announcement is a
testament to the power of collaboration. When leaders come together
from government, industry and the life sciences community, we can
build an engine that will drive economic growth and fuel the future
of medicine."
Susan Marlin
President & CEO, Clinical Trials Ontario
SOURCE AstraZeneca Canada Inc.
