A global animal vaccine manufacturer has bought a large chunk of CSL's old Melbourne site in a mega deal with the Victorian government.
ASX-listed biotechnology giant CSL sold its 11.2ha site on Poplar Road in Parkville to the state government for an undisclosed fee, it confirmed on Friday.
Most of the site was on-sold to Zoetis, a developer and manufacturer of health products for companion animals and livestock, under a deal worth up to $350 million.
Victorian Precincts Minister Colin Brooks said terms of its purchase from CSL would not be released, declaring it commercial in confidence.
"We are retaining ownership of part of the site," he told reporters.
"We'll look at the best strategic use for that part of the site ... but this site will allow Zoetis to expand and invest that sum of money."
Up to 95 jobs are expected to be created under the deal with Zoetis, which originated in 1922 out of CSL's animal health division before being sold to Pfizer in 2004.
Zoetis chief executive Kristin Peck said the government negotiated hard but the massive investment would go towards expanding manufacturing and research and development on site.
"One thing we've learned certainly through COVID is the importance of a safe and affordable food supply and of local sources of vaccines," she said.
"Given we provide 75 per cent of the vaccines for cattle and sheep across Australia, the site is absolutely critical."
Victorian taxpayer cash from the land sale has contributed to construction costs for CSL's 16-storey headquarters and R&D centre at 655 Elizabeth Street in the Parkville medical precinct.
After 107 years, CSL will fully vacate the Poplar Road site and move operations to its Elizabeth Street headquarters and influenza and anti-venom manufacturing facility in Tullamarine once the latter is completed.
