The CSL Ltd (ASX: CSL) share price is up more than 2% after the ASX biotech share announced a vaccine agreement to supply Canada.
CSL is the largest healthcare business in Australia, producing a range of blood plasma therapies, vaccines and other life-saving treatments.
CSL’s Canadian vaccine win
Amid the visit to Australia by the Prime Minister of Canada, it was announced that CSL had signed deal with Public Health Agency of Canada to supply vaccines.
CSL Seqirus – the vaccine division of CSL – will deliver up to 15 million doses of cell-based adjuvanted influenza vaccine, from CSL’s manufacturing facility in Victoria, Australia in the event of an influenza pandemic being declared.
The Canadian PM said that the pandemic vaccine preparedness contract will help protect Canadians against future pandemic events and demonstrates how Australian and Canadian science and health collaboration is supporting health and economic security, supply chain resilience, and pandemic preparedness.
The leaders of Australia and Canada also highlighted of the memorandum of understanding (MoU) signed between the Business Council of Australia and the Business Council of Canada on 5 March 2026, to facilitate greater trade and investment and facilitate meaningful business leader engagement.
What to make of this for the CSL share price
No-one wants to see another global pandemic happen again, but this agreement shows how countries (and a company) can work together to ensure that if/when another pandemic hits, there is already a plan in place on how to help citizens in Canada.
The agreement may not be a massive one for CSL, but it’s a vote of confidence in the company and it could do with every win it can get at this stage.
In the last six months alone, the CSL share price has fallen by 30%, so today’s good news is a small step in the right direction.
I’m not excited by the valuation yet, but the lower it goes the more likely it is that it’s good value. But, there are other ASX growth shares I’d rather buy for my portfolio that don’t face such structural challenges because of headwinds in certain countries.
