Canada outperforms 5- and 10-year historic FDI averages in Q4 2022 by: Invest in Canada
As 2022 came to a close, foreign direct investment (FDI) in Canada remained steady with Statistics Canada reporting quarterly net inflows of $17.2 billion in the fourth quarter of 2022, a figure 21.5% higher than the 10-year quarterly and 17% greater than the five-year quarterly average. Total net inflows for the year reached $68.5 billion, the second highest level since 2014.
Major reinvestment from AstraZeneca confirms Canada’s vital role in clinical trials by: Invest in Canada
On February 27, 2023, one day before Rare Disease Day, U.K.-based biopharmaceutical company AstraZeneca and Alexion, its U.S.-based subsidiary focused on rare diseases, announced a $500 million investment in Mississauga, Ontario.
The investment will expand the existing AstraZeneca R&D Hub and also create a new Alexion Development Hub for rare diseases. This major reinvestment in Canada’s life sciences sector is expected to create 500 scientific and high-tech jobs within two years.