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Australia to spend $726 million underwriting country's biggest vaccine plant

Under the deal, CSL vaccine subsidiary Seqirus would spend A$800 million building the facility in the city of Melbourne

November 16, 2020 / 10:47 PM IST

Australia will spend A$1 billion ($726.3 million) underwriting construction of a vaccine manufacturing plant under a deal with a unit of biomedical giant CSL Ltd, guaranteeing the supply of flu shots and antivenins, the federal government said on Monday.

Under the deal, CSL vaccine subsidiary Seqirus would spend A$800 million building the facility in the city of Melbourne, while the government would guarantee purchase of its vaccines for 10 years, local media reported.

The purchase agreement would begin when the new plant opens in 2026, in time for the expiry of a current supply agreement with CSL which runs until about 2025, media added.

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