The new service will fly daily between Monday and Thursday from Cambridge, where AstraZeneca's global heaquarters is based, to Gothenburg.
It will be partly used by the pharmaceutical giant to enable staff from its Cambridge HQ to travel and meet with staff at its key European hub in Gothenburg.
The route will launch on 2 March, flying under the British Airways brand.
Taus Nohrlind, chairman, Institute of Directors (IoD) in Cambridgeshire, said: "Sweden is an important new economic link for East England and especially so for Cambridge.
"As the most important Scandinavian market to the region, it accounts for more inbound business visits than Denmark, Norway and Finland combined. 55% of travellers from Sweden to Cambridge are business travellers, the highest percentage of any major international market and twice the average business share of international visitors to Cambridge."
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