AstraZeneca Building Research Center in Canada

Pharmaceutical company AstraZeneca is developing a $570 million (C$820 million) research facility in Ontario, Canada.

“New investment in Canada will contribute to AstraZeneca’s global ambition 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,” a press release on the matter says. “The Company also expects seven first Phase III clinical trial data readouts in 2025.”

The facility will create more than 700 high-skilled jobs.

AstraZeneca CEO Pascal Soriot said the 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.”

Ontario Premier Doug Ford said the move is “news for Ontario and a testament to the remarkable talent, innovation and opportunities our province offers.”

“We are proud to support this expansion, which will create hundreds of highly skilled jobs and further solidify Ontario’s position as a global leader in life sciences and innovation,” he declared.

AstraZeneca acknowledged last year that its COVID-19 vaccine can cause “rare side effects.”

The company admitted in court documents, as part of a class action lawsuit filed against them, that its vaccine can cause thrombosis with thrombocytopenia syndrome (TTS). The syndrome is a rare medical condition when a person suffers from blood clots with a low platelet count.

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