The Commonwealth Serum Laboratories was established in Australia in 1916 to service the health needs of a nation isolated by war. Over the following years CSL provided Australians with rapid access to 20th century medical advances including insulin and penicillin, and vaccines against influenza, polio and other infectious diseases. CSL Limited was incorporated in 1991 and listed on the Australian Securities Exchange (ASX) in 1994.

Today, CSL comprises businesses with longstanding, specialized expertise: CSL Behring, a global leader in rare and serious diseases; CSL Seqirus, one of the largest influenza vaccine providers in the world; CSL Plasma, the world's largest plasma collection company; and, most recently, CSL Vifor, a leader in iron deficiency and nephrology.