- CSL (CSL) subsidiary Seqirus has signed a final agreement with the Federal Government to supply another COVID-19 vaccine
- The vaccine (V451) is being developed by the University of Queensland and CSL, with the Government agreeing to buy 51 million doses
- However, the agreement is contingent on the vaccine proving successful in clinical trials which could be begin in March 2021
- CSL has also signed agreements with the Government and AstraZeneca to supply around 30 million doses of the Oxford COVID-19 vaccine
- The healthcare giant’s shares are currently trading up 1.84 per cent, worth $297.23 each
Leading healthcare stock CSL (CSL) has announced its subsidiary Seqirus has signed a final agreement with the Federal Government for the supply of another COVID-19 vaccine.
The immunisation, in particular, is the one being developed by the University of Queensland and CSL. The Australian Government has agreed to buy 51 million doses of the vaccine (V451), should clinical trials prove successful.
It’s another significant update for the ASX-50 lister, who has the biggest market cap on the stock exchange, totalling over $132 billion.
The healthcare giant has also signed agreements with the Commonwealth and fellow drug company AstraZeneca to supply around 30 million doses of the Oxford University and AstraZeneca COVID-19 vaccine.
That particular immunisation is considered the world-leader, in terms of how far it has managed to progress in its clinical trial stages.
Returning to the University of Queensland vaccine though, CSL said V451’s large scale Phase 2b/3 clinical study is almost ready to begin. The company believes all participants in the trial will be registered by March 2021.
CSL is working with the Australian Therapeutic Goods Association to make sure the vaccine is ready for approval once trails wrap up, so the drug can hopefully be deployed as soon as possible.
The multi-billion-dollar company is yet to place a financial impact on its COVID-19 vaccines, but the windfall could be significant.
Shares in CSL are currently trading up 1.84 per cent, worth $297.23 a pop at 1:51 pm AEDT.