New flu vaccine research a focus for CSL

“When administered, self-amplifying mRNA has the capacity to replicate (or amplify) itself. As a result, far less mRNA may be required in the vaccine formulation to generate equivalent antigen production and an effective immune response,” management explained in its annual report.

CSL spent $US1 billion on research and development in 2021 and this number is set to increase, with the business setting a spending target of between 10 and 11 per cent of annual revenue.

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The business has become instrumental in Australia’s coronavirus vaccine rollout through its production of 50 million doses of the AstraZeneca vaccine. CSL has been involved in a number of COVID research projects, but the bulk of its R&D program has nothing to do with coronavirus.

A new cell-based influenza facility at Tullamarine and research hub in Melbourne’s Parkville biomedical precinct are set to open in the coming years.

The company’s research focus goes beyond Australia, with its 1700 scientists scattered across nine countries. A new research and development campus is set to open in Marberg, Germany next year, while the company is also expanding its research centre in California.

CSL chair Brian McNamee said in a letter to investors on Friday that while CSL has not been immune from the coronavirus pandemic, the board has full confidence in the company’s ability to grow moving forward.

Chief executive Paul Perreault will receive a total realised remuneration package worth $US45.3 million ($61.25 million) for steering the company through 2021. Long-term incentives which vested during the year make up the majority of these payments, coming in at $US42 million.

Shares closed up 0.1 per cent on Friday to $303.87.

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