Today, Premier Ford and Vic Fedeli, Minister of Economic Development, Job Creation and Trade announced the Ontario government is partnering with the federal government, the City of Toronto and Sanofi, a leading global biopharmaceutical and vaccines company, to expand its Ontario facility to meet growing demand for flu vaccines, boost Canada’s preparedness for future pandemics and create 300 high-quality jobs.
Ontario is investing $55 million through a performance-based loan, toward construction of Sanofi’s $925 million state-of-art vaccine facility to meet growing demand for flu vaccines, specifically for populations at greater risk of influenza. The company is also committing to an average of $79 million a year in research and development in Ontario or more than a half a billion dollars over the life of the agreement. Sanofi will also be leveraging leading scientists in the province giving them the industrial R&D experience that is valuable to companies.
- Ontario is proud to partner with Sanofi Canada to expand its state-of-the art biopharmaceutical facility in Toronto. This investment will strengthen domestic capacity and meet growing demand for flu vaccines, boost Canada’s preparedness for future pandemics, and create 300 new high-quality jobs.
- Ontario is investing $55 million in the form of a performance-based loan, with support from the federal government ($400 million) and the City of Toronto towards construction of Sanofi’s $925 million vaccine facility to meet growing demand for flu vaccines, specifically for populations at greater risk of influenza.
- Through this agreement, the company is committing to an average of $79 million a year in research and development in Ontario, leading to over half a billion dollars in new spending over the life of the agreement. The facility will also require approximately 700,000 eggs daily to produce millions of doses annually, representing about a 7.2% increase to total provincial egg production and adding $55 million in direct GDP in the egg industry value chain.
- The support we provide Sanofi will build on this province’s bio-manufacturing capacity, save lives, and prepare us for future pandemic emergencies. The project will result in the production of more flu shots in Ontario, while strengthening the province’s biopharmaceutical industry, making the province a strong candidate for future vaccine production.