Parkville job boost after animal health company buys former CSL site

Global animal health company Zoetis Australia has bought a major portion of the former CSL site in Parkville’s biomedical precinct.

The acquisition of the site from the state government includes a capital investment to help start sovereign manufacturing capabilities, the acquisition of the majority of the former CSL site at Poplar Rd in Parkville Gardens.

The state government originally bought the site so that the Parkville Precinct becomes a world-leading biomedical centre for innovation and advanced manufacturing.

“It’s a $350 million vote of confidence in Melbourne to secure the old CSL site for Zoetis, and as we continue to invest in infrastructure and housing in the area, Parkville will only further cement itself as a world-leading biomedical hub,” Minister for Precincts Colin Brooks, who joined Minister for Jobs and Industry Natalie Hutchins in making the announcement, said.

The state government said the deal would create up to 95 jobs.

Minister for Precincts Colin Brooks (right) and Minister for Jobs and Industry Natalie Hutchins (left) join Zoetis CEO Kristin Peck in announcing the purchase of the site.

Zoetis said acquiring the site of 21-acres would significantly expand its current operations to develop and manufacture vaccines for sheep, cattle, dogs, cats and horses.

Currently 130 million doses of vaccines for companion animals and livestock are produced in Australia each year.

A Fortune 500 company, Zoetis generated revenue of $8.5 billion in 2023 with about 14,100 employees globally.

Zoetis CEO Kristin Peck they were excited to increase their investment in Australia and provide greater support to Australia’s farmers and veterinarians.

“This investment will enable us to meet future demand for essential veterinary and livestock vaccines in Australia – as we look to expand capacity, upgrade our production capabilities, and facilitate exports to new markets,” she said.

“Australia’s livestock sector is highly regarded around the world, and Zoetis is proud to help the region’s livestock farmers be part of a climate solution as they increase productivity, health and welfare outcomes that can have a positive impact on the planet.”

CSL moved to its new 18-storey headquarters at 655 Elizabeth St in Parkville in August last year.

The building by Melbourne developer PDG includes a global head office and innovation labs.

CSL has also expanded with a development of a new purpose-built facility in Melbourne Airport Business Park at Tullamarine, and a major expansion of its Broadmeadows plasma fractionation facility.

In 2023, Zoetis sold $484 million of products in Australia, an increase of 17 per cent over the previous year. The company employs 426 people in Australia.

The growth of Parkville’s health and education precinct will be serviced by a new Parkville Station, which opens a year ahead of schedule in 2025.