Leading global biotherapeutics company CSL Limited has unveiled its new world-class manufacturing facility in Melbourne’s north, which will create life-saving medicine and hundreds of jobs.

The facility will manufacture albumin – a protein derived from human plasma used in critical care to treat burns and shock.

CSL expects the facility to produce therapies with an estimated annual market value of $850 million with plans to export products to the United States and Europe, while also producing products for the local Australian market. The company currently provides life-saving products to more than 60 countries and employs nearly 20,000 people with major facilities in Australia, China, the UK, Germany, Switzerland and the USA. In Australia, CSL employs more than 2,000 people with 98 per cent of those in Victoria.

Victoria is a world-leader in the development and manufacture of biotechnology, medical technology, and pharmaceutical products with the recent State of the Sector Medical Technologies and Pharmaceuticals 2017 PDF, 1.8 MB report showing that pharmaceutical manufacturing in Victoria is booming.

The medtech and pharmaceutical sector currently employs more than 23,000 people, generates over $12.7 billion in revenue and contributes over $1.35 billion in exports to the Victorian economy.