Meantime the S&P/ASX 200 Index (ASX: XJO) is up 0.34% to just above 7,000 points.

The market is a mixed bag today with some sectors up and some down. The S&P/ASX 200 Health Care Index (ASX: XHJ) is among those in the red, down 0.2% at the time of writing.

What did CSL announce today?

CSL has announced that it has entered into a new collaboration and licensing agreement.

The agreement is with Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT). It's costing CSL US$200 million upfront with further payments down the track if certain milestones are achieved. The companies have also agreed to profit sharing on future product sales.

Under the terms, CSL will have access to late-stage self-amplifying mRNA vaccine platform technology.

According to the release, Arcturus Therapeutics is developing next-generation mRNA vaccines.

CSL chief operating officer Paul McKenzie said:

This collaboration is an exciting opportunity to complement CSL's own next generation mRNA program with a partner who developed a platform to deliver late stage clinical supplies at scale. These combined capabilities will accelerate our journey in mRNA.

CSL is looking to develop and commercialise enhanced vaccines for the flu as well as 'multi-pathogen pandemic preparedness'.

CSL will have the exclusive licence to Arcturus' mRNA technology for the flu, COVID-19, and other respiratory viral diseases.

The license for multi-pathogen pandemic preparedness is non-exclusive but CSL has the right to make it exclusive at a later date.

The deal is subject to regulatory approvals.

What's next for the CSL share price?

As my colleague Monica reported, the CSL share price fell slightly last month.

The company held its annual general meeting on 12 October. CSL CEO and managing director Paul Perreault told shareholders the company was performing in line with its guidance for FY23.

On 17 October, CSL provided an update on its Vifor business. The company advised it expected more than 10% revenue growth in the medium term. CSL gave a new FY23 net profit after tax before amortisation (NPATA) guidance range of US$2.7 billion to US$2.8 billion, including Vifor sales.

Two company directors loaded up on more CSL shares during October. Non-executive director Alison Watkins AM invested $272,000 and non-executive director Dr Megan Clark AC invested $74,000.

The post Why is the CSL share price falling on Wednesday? appeared first on The Motley Fool Australia.