(Reuters) -Australia’s CSL said on Thursday its vaccine arm, CSL Seqirus and Vaccine Industrial Company, had inked a deal with Saudi Arabia’s Health Ministry to localize manufacturing of cell-based seasonal and pandemic influenza vaccines.

The deal comes a few days after biotech firm CSL said it was no longer targeting to complete the spin-off of Seqirus in fiscal 2026 amid heightened volatility in the U.S. vaccine markets.

CSL is now looking towards other regions for growth, while the U.S., its key vaccine market, saw an unprecedented fall in flu immunization rates, leading to Australia’s fourth-largest company by market value to dim its profit outlook for fiscal 2026.

The agreement will allow CSL Seqirus to provide its cell-based seasonal and pandemic influenza vaccines to help Saudi

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