AstraZeneca Invests $570M in Canadian Expansion, Creating 700 New Jobs

Investment Amount:
AstraZeneca is investing $570M (C$820M) in Canada to expand its operations and create 700 new high-skilled jobs135.

Location:
The investment will support the move to a larger, state-of-the-art office facility in the Greater Toronto Area (GTA), Ontario135.

Global Ambition:
This investment is part of AstraZeneca’s global ambition to achieve $80 billion in total revenue and to bring 20 new medicines to patients around the world by 2030135.

R&D Focus:
The expansion will strengthen AstraZeneca’s R&D capability, leveraging AI, computational pathology, and digital health technologies, as well as enhancing clinical trial design in oncology, immunology, and infectious disease1.

Previous Investments:
Since 2023, AstraZeneca has invested more than $1.3 billion in Canada, creating a total of 1,200 new high-skilled jobs135.

Acquisition:
In 2024, AstraZeneca completed a $3 billion agreement to acquire Fusion Pharmaceuticals, a Hamilton, Ontario-based company developing next-generation radioconjugates135.

Government Support:
The Ontario government is contributing $16.1 million through Invest Ontario to support the creation of these new jobs3.

Sources:

1. https://www.soci.org/news/2025/1/astrazeneca-plans-canada-investment

3. https://www.investing.com/news/stock-market-news/astrazeneca-to-invest-570m-in-canada-creating-700-new-jobs-93CH-3827968

5. https://www.biospace.com/press-releases/astrazeneca-plans-c-820-million-us-570m-investment-in-canada-to-advance-growing-global-hub-and-clinical-delivery