AstraZeneca PLC on Thursday announced a $570 million investment in Canada, creating more than 700 jobs, across all areas of the business.
The Cambridge-based pharmaceuticals company said the investment will contribute to its global ambition to achieve $80 billion in total revenue and to bring 20 new medicines to patients around the world by 2030 of which eight new medicines have been delivered to date.
The company also expects seven first Phase III clinical trial data readouts in 2025.
AstraZeneca said it is one of the leading R&D investors in Canada, contributing more than C$230 million in research and development in 2023. 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.
Chief Executive Pascal Soriot 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.’
Shares in AstraZeneca closed 0.5% higher at 11,098.00 pence in London on Thursday.
Copyright 2025 Alliance News Ltd. All Rights Reserved.
