HQ Team
January 26, 2025: Pharmaceutical giant AstraZeneca has announced plans to invest US$570 million in Canada over the next decade, positioning the country as a vital player in its global research and clinical delivery network.
This funding, spread over 10 years, is part of the company’s broader strategy to enhance its global research capabilities. The company has plans 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 been delivered to date. The company also expects seven first Phase III clinical trial data readouts in 2025, according to a statement.
Strategic global hub
Canada’s advanced healthcare infrastructure and robust research ecosystem have made it an attractive location for AstraZeneca’s expanding operations. 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. It is one of the largest acquisitions to date in pharma in Canada.
Pascal Soriot, the company’s chief executive officer said, “We are not only advancing our innovation pipeline but also strengthening our ties with Canada’s vibrant life sciences community to bring life-changing treatments to patients worldwide.”
AstraZeneca’s Canadian operations, headquartered in Mississauga, Ontario, have already made significant contributions to its global portfolio, particularly in oncology, respiratory, and cardiovascular therapies.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 diseases.
Economic and healthcare Impact
The investment is expected to generate significant economic benefits, including the creation of hundreds of jobs in research, manufacturing, and clinical development. Local universities and research centres stand to gain from partnerships, funding, and opportunities to collaborate on cutting-edge medical innovations.
AstraZeneca’s Canadian team will focus on several high-impact areas, including the development of biologics, cell and gene therapies, and next-generation medicines. Part of the investment will also support AstraZeneca’s clinical trial network, ensuring faster and more efficient delivery of new treatments to patients.
