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.

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…