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AstraZeneca: $570m invested in Canada

(CercleFinance.com) - AstraZeneca is planning to invest $570m in Canada as part of its strategy to develop new medicines.


With this project, which is expected to create over 700 jobs, the biopharmaceutical group plans to move into larger, state-of-the-art offices in the Greater Toronto Area, Ontario.

This announcement comes on the heels of last year's acquisition of Fusion Pharmaceuticals, an Ontario-based company specializing in the development of radioconjugates, a promising technology for the radiotherapy of cancer patients.

This new investment will support AstraZeneca's ambition to generate total sales of $80 billion and bring 20 new drugs to market by 2030, eight of which are already on the market.

In a press release, Pascal Soriot, AstraZeneca's CEO, says he is convinced that Canada can become a 'global crossroads' for innovation in life sciences, highlighting the strength of the public-private partnership with the Ontario government.


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