CSL (ASX:CSL) signs Covid-19 agreement with government

Company News

by Rachael Jones

CSL (ASX:CSL) subsidiary, Seqirus, has signed a final agreement with the Commonwealth of Australia for the supply of 51 million doses of the University of Queensland-CSL Covid-19 vaccine candidate, should clinical trials be successful.

The Agreement includes an up-front financial commitment from the Government to support the clinical and technical development activities that CSL will need to assume in order to progress V451, and also secures access to onshore production and supply of the vaccine for Australia.

The Company previously entered into an agreement with the Australian Government and AstraZeneca to produce approximately 30 million doses of the Oxford University/AstraZeneca vaccine candidate, AZD1222.

The two vaccines work through different approaches, but can leverage many facets of the same manufacturing platform technology.

Given the considerable risk, effort, cost and uncertainty associated with the development of these novel vaccines, it is too early to calculate with any certainty the financial impact to the Company.

Shares in CSL (ASX:CSL) are trading 0.75 per cent higher at $294.04.