Technology

08
Oct

Investment in biotech company to deliver 190 jobs

Technology Portfolio
Investment in biotech company to deliver 190 jobs
Australia’s largest biotechnology company, Commonwealth Serum Laboratories (CSL), will invest $210 million to expand albumin production at its Broadmeadows site, creating 190 new jobs, Premier Denis Napthine announced today.

Dr Napthine joined Minister for Technology Gordon Rich-Phillips and said the Broadmeadows expansion would boost CSL’s global albumin production capacity by 50 per cent.  

“This expansion will better integrate the Broadmeadows site with the global supply chain, generating potential annual exports to the value of $600 million by 2026,” Dr Napthine said.

“CSL is one of the largest manufacturers of blood plasma products in the world and this massive expansion is a huge vote of confidence in Victoria as a place to invest and do business.

“Albumin currently represents 13 per cent of CSL’s total global sales. At full manufacturing capacity, the Broadmeadows site will produce more than a third of CSL’s global albumin,” Dr Napthine said.

Dr Napthine said today’s announcement was the latest in a string of biotechnology  investments across Victoria, including the opening of CSL’s $257 million biotechnology manufacturing facility in Broadmeadows and Fresenius Kabi’s new $47 million pharmaceutical manufacturing and distribution facility.

“The Coalition Government has worked closely with CSL and provided assistance with this expansion as part of our commitment to deliver 21st century jobs for Victoria,” Dr Napthine said.

“We are targeting high-end, knowledge-intensive manufacturing industries for strategic co-investments in order to diversify our state economy and boost Victorian exports.”

Minister for Technology, Gordon Rich-Phillips said the Victorian Government was working to support skills development, innovation, commercialisation and new market opportunities across the biomedical sector.  

“We have also made significant investments in new research facilities such as the Olivia Newton-John Cancer and Wellness Centre and the Victorian Comprehensive Cancer Centre,” Mr Rich-Phillips said.

“We are also helping local biotechnology companies like CSL capture new opportunities internationally and we will continue to put Victoria’s health goods and services industry on the map in some of the world’s fastest-growing markets,” Mr Rich-Phillips said.

Media contacts:
Andrew Drever     0409 580 996 andrew.drever@minstaff.vic.gov.au     (Minister Rich-Phillips)
  • SHARE:
  • Email
  • Permalink