AstraZeneca to Establish $820M Research and Development Hub in Ontario

January 24, 2025 TruthUSA

Pharmaceutical giant AstraZeneca is committing $820 million towards an expanded research and development hub in Mississauga, as announced by the company.

The investment will facilitate the firm’s relocation to a larger office facility in Mississauga and create over 700 jobs across all divisions, according to AstraZeneca’s press release.

Premier Doug Ford announced in a statement on Jan. 23 that the provincial government would provide $16.1 million in funding through its Invest Ontario Fund to support the expansion.

AstraZeneca aims to achieve its total revenue target of US$80 billion and introduce 20 new medicines by 2030. The company has already developed eight of these 20 new medicines.

The Mississauga facility, with a staff of 1,500, serves as a clinical hub for AstraZeneca, contributing to the completion of more than 210 global clinical trials and the planning of seven phase three data readouts for this year.

AstraZeneca CEO Pascal Soriot stated in the press release, “This investment reflects our strong belief in Canada’s potential as a global hub for life sciences innovation. We believe that the diverse talent pool along with the network of world-class universities, hospitals, and research centers will help us bring new medicines to Canadians and patients worldwide.”

In 2023, the company inaugurated a rare disease research hub in the GTA. When combined with the 2025 expansion, AstraZeneca’s investments in Ontario total more than $1.3 billion.

Headquartered in the UK, the company also has research and development centers in the UK, the USA, Sweden, and Poland.

According to AstraZeneca Canada President Gaby Bourbara, the investments in the Ontario facilities aim to advance “innovative medicines that treat, prevent, and potentially cure complex diseases.”

Ford has been advocating Ontario as an ideal location for life science companies since 2018 and introduced a plan in 2022 to expand the sector in the province. The government allocated $146 million last fall to foster growth in the biomanufacturing and health sciences sector.

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