Province Announces Investment In New Vaccine Facility

Province Announces Investment In New Vaccine Facility

Posted: 2021-03-31 11:57:22 By: thebay

The province announced it 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.

The province is investing $55 million through a performance-based loan, toward construction the company’s $925 million state-of-art vaccine facility. 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.

The investment will enable Sanofi to bulk manufacture Fluzone® High-Dose Quadrivalent Influenza Vaccine at its historic Connaught site in Toronto.

The province says the project will result in the production of more flu shots in Canada, while strengthening Ontario's biopharmaceutical industry, making the province a strong candidate for future vaccine production.