The Canadian government is not helping fund the company’s $500\u002Dmillion expansion in Canada.
Soriot said the company does hundreds of clinical trials out of its Canadian facilities and the expansion will grow that work.
There was no government funding involved in Monday’s announcement, but the federal government has recently invested hundreds of millions in new plants and facilities from other drug makers.Prime Minister Justin Trudeau said the investment is part of a broader effort to attract more investments in the health sciences sector.
The company has more than 80,000 employees worldwide and is based in the United Kingdom. It currently employs 700 people in Canada. “This investment is a huge vote of confidence in Ontario in our thriving research ecosystem with our world class universities and colleges,” he said. “We want Ontario to be the place where medical breakthroughs are discovered, commercialized and developed into innovative products.”
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