AstraZeneca Makes Investment to Create 700 High-Skilled Jobs in Greater Toronto Area

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AstraZeneca has announced a C$820 million (US$570 million) investment in Canada, which the company says will create more than 700 high-skilled jobs across all areas of its business (1). In a press release on Jan. 23, 2025, AstraZeneca said the new jobs would be the result of a move to a larger, state-of-the-art office facility in Ontario, in the greater Toronto area (1).

This latest investment is part of AstraZeneca’s plan to bring 20 new medicines to patients—of which eight have been delivered to date—and achieve US$80 billion in total revenue by 2030, according to the press release. AstraZeneca also said it expects seven first Phase III clinical trial data readouts in the coming year (1).

“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,” Pascal Soriot, AstraZeneca CEO, said in the release. “We believe the diverse talent pool together with the network of world-class universities, hospitals, and research centers will help us bring new medicines to Canadians and patients worldwide.”

Ontario Premier Doug Ford mentioned that a government initiative has been made available to AstraZeneca for the purposes of this investment.

“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,” Ford said in the release.

“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,” Gaby Bourbara, president, AstraZeneca Canada, said in the release. “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.”

What the high-skilled jobs are was not broken down in the press release, but among more than 200 global clinical studies currently being undertaken by AstraZeneca are those in the areas of breast, lung, and prostate cancers, chronic obstructive pulmonary disease, and severe asthma, according to the press release (1).

Earlier in January 2025, two AstraZeneca treatments, Imfinzi (durvalumab) and Tagrisso (osimertinib), received positive recommendations from the National Institute for Health and Care Excellence for lung cancer patients in England and Wales (2).

Since 2023, AstraZeneca’s investments in Canada have exceeded C$1.3 billion (approximately US$905 million), representing 1200 new high-skilled jobs (1). Currently, the company employs more than 2100 workers across Canada. In 2024, AstraZeneca reached an agreement to acquire Fusion Pharmaceuticals, of Hamilton, Ontario, which developed next-generation radioconjugates to be used in radiotherapy for cancer patients.

References

1. AstraZeneca. AstraZeneca Plans C$820 million (US$570m) Investment in Canada to Advance Growing Global Hub and Clinical Delivery. Press Release. Jan. 23, 2025.
2. AstraZeneca. AstraZeneca Receives Two Positive NICE Recommendations for Lung Cancer Patients Across England and Wales. Press Release. Jan. 22, 2025.