Insights

CSL (ASX:CSL) share price up after AstraZeneca vaccine approved for use in Australia

The CSL Limited (ASX: CSL) share price is up today as the Australian government approves use of its COVID-19 vaccine within the country.
The post CSL (ASX:CSL) share price up after AstraZeneca vaccine approved for use in Australia appeared first on The Motley Fool Australia. –

doctor making thumbs up gesture and holding vial labelled 'covid-19 vaccine' representing covid shares

The CSL Limited (ASX: CSL) share price is up by 2.73% today. The positive price movement comes on the heels of news the Australian government has approved use of its COVID-19 vaccine within the country.

At the time of writing, shares in the pharmaceutical giant are trading for $260.87 – up 2.44%. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 0.66%.

Let’s take a closer at the government’s announcement.

CSL-made AstraZeneca vaccine will be used in Australia

The CSL share price is responding well to today’s news. The Therapeutic Goods Administration (TGA) announced late on Sunday it had approved use of the CSL-manufactured AstraZeneca (LSE: AZN) COVID-19 vaccine in Australia. On 16 February, the TGA approved the use of the overseas-manufactured AstraZeneca vaccine.

The approval process has been at least 6 months in the making, according to the administrator. CSL announced a deal with the government back in September 2020 to manufacture the vaccine locally. The government has bought a total of 50 million doses of the AstraZeneca vaccine.

The vaccine will be produced at 2 factories in Melbourne. CSL-Behring Australia, in Broadmeadows, is manufacturing the active raw vaccine material. Vial filling and packaging is being completed at the Sequris (a CSL subsidiary) centre in Parkville.

The first batches of the vaccine are expected to be out in the community within days. The TGA will need to approve every batch before it can be injected into the populace, however.

Australia is currently in the 1b phase of its vaccine rollout. On top of frontline workers and residential aged-care facility residents, anyone over the age of 70, Indigenous Australians over 55, or any adult with an underlying medical condition are eligible for the vaccine. The federal government is administrating the rollout. Vaccine supplies are being provided to registered GPs, pharmacies, and medical centres for mass inoculation.

The approval comes at a critical time for the country. European Union countries have been blocking shipment of AstraZeneca vaccines made in its nations to Australia, with the continental government body citing rising COVID cases and lack of vaccine supply for its citizens.

CSL share price snapshot

Despite today’s announcement, and its government tender, the CSL share price is down more than 3% on this time last year. In fact, the share price hit a 52-week low at the beginning of this month. The strong Aussie dollar hampered interim dividend payments to investors for the FY21 half-year.

CSL has a current market capitalisation of $118.4 billion.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post CSL (ASX:CSL) share price up after AstraZeneca vaccine approved for use in Australia appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!