Beyond the agreement with the Australian Government, CSL noted that it had also agreed to manufacture some 30 million doses of AstraZenecta's covid-19 vaccine - also based on a two doses per person regime - which is set to become available in early CY21.
"Australians will gain free access to a COVID-19 vaccine in 2021 if trials prove successful", Morrison said in a statement on Monday.
The full details of the agreements are expected to be officially announced on Monday by Prime Minister Scott Morrison, along with Health Minister Greg Hunt and the Minister for Industry, Science and Technology Karen Andrews.
Under the agreement with the Australian Government, CSL has committed to manufacturing some 51 million doses - based on a two dose per person regime - of the coronavirus vaccine now being worked on by the University of Queensland.
J&J's coronavirus vaccine is one of the hundred vaccines being developed in response to the COVID-19 pandemic worldwide.
The AstraZeneca vaccine is now the most progressed candidate in the world, with late-stage phase three trials in Britain, Brazil, the United States and South Africa generating strong immune responses in humans with no significant concerns.
Leaders of Kosovo, Serbia at White House for economic talks
The Trump administration recognized Jerusalem as Israel's capital in late 2017 and moved the USA embassy there in May 2018. Israel seized control of East Jerusalem in 1967 and later annexed it in moves never recognised by the worldwide community.
The announcement also caused confusion when Morrison was forced to clarify the vaccine would not be compulsory after earlier suggesting it would be "as mandatory as you can possibly make".
A deal has been signed which gives Australians priority access to the University of Oxford/AstraZeneca vaccine and the University of Queensland/CSL vaccine, which will be manufactured in Melbourne.
Federal Treasurer Josh Frydenberg on Monday announced Australia would extend its temporary insolvency and bankruptcy protection rules until the end of this year, barring creditors can not issue bankruptcy notices to businesses for debts below A$20,000.
First doses of that vaccine are scheduled for release in early 2021, depending on the results of the latest human trials. More than 22,400 people have recovered.
Hopp said that there is a possibility that the vaccine will be approved this year "on the basis of interim data, for example for certain, particularly vulnerable occupational groups or regions".
Phase I clinical trials of the vaccine began on July 15 at 12 centres across the country where healthy volunteers were administered two doses of vaccination shots with a gap of 14 days.