The Federal Government will invest $30 million to increase Australia’s research and development capacity through CSL Limited. This investment forms part of a $235 million project that will strengthen our ability to protect Australians from disease.
The project will deliver a major expansion in R&D capacity at CSL Limited’s facility in Broadmeadows, Victoria. It will help ensure that CSL can do medical research that will help save lives, provide lasting benefits to the community, and increase Australia’s readiness to tackle future health threats.
“CSL is a strategically important provider of vaccines, anti-venoms, blood products and diagnostic health products for the Australian community,” Innovation Minister Senator Kim Carr said.
“This investment will help build the infrastructure and develop the capabilities Australian scientists need to create complex, next-generation drugs and deal with future epidemic diseases.”
Federal Member for Calwell, Maria Vamvakinou MP, said the high-value R&D investment would provide a big boost to the northern Melbourne region.
“It will result in over 333 ongoing, highly-skilled jobs and an average of 320 full-time jobs in the construction and commissioning phases,” Ms Vamvakinou said.
Senator Carr said, “CSL plays a unique role in blood fractionation; the development of new vaccines, such as its first-to-market H1N1 vaccine; and the production of anti-venoms for bites that are only inflicted in Australia, for example from brown snakes and funnel-web spiders.
“Australia will benefit from this investment for years to come.”
CSL has a special place in Australia’s history. It started as the Commonwealth Serum Laboratories in 1916 and was privatised as CSL Limited in 1994. CSL delivers a range of products and services that the Australian community has come to rely on.
Funding for this investment has already been provided for in the 2010-11 Budget and in the updated budget projections released in the Treasurer’s Economic Statement of 14 July 2010.
