General
No homegrown coronavirus vaccine, but CSL inoculated against failure
Australia won’t save the world, this time, after trials of our promising COVID vaccine were abandoned.
Key points:
- CSL is one of Australia’s most valuable companies
- This year it briefly had the largest market capitalisation on the ASX
- Blood products and vaccines powered a $2 billion profit this year
It’s a rare setback for biotech behemoth CSL.
CSL is one of our largest companies — a global biotech giant worth more than some of our biggest banks — but one that many Australians would have never heard of.
The failure to produce a successful vaccine is unlikely to even knock its share price on the stock exchange in the medium to long term, because it has a contract to manufacture up to 30 million doses of a rival company’s treatment.
“They’ve…
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