CSL to develop world-leading COVID-19 treatment

CSL Limited (ASX: CSL) has announced it will immediately begin local development of an immunoglobulin product with the potential to treat serious cases of COVID-19.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The share price of global biotherapeutics company CSL Limited (ASX: CSL) is up slightly by 0.4% today following a major announcement that it will immediately begin local development of an immunoglobulin product with the potential to treat serious cases of COVID-19.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down by 0.8% at the time of writing.

World-leading treatment for seriously impacted patients

CSL noted in its media release today that it is developing a plasma product that has the potential to treat coronavirus patients with serious complications, particularly those whose illness has begun to progress to the stage where ventilation is likely to be required.

The product will be named 'COVID-19 Immunoglobulin' and will be developed at CSL's local advanced manufacturing facility located in Broadmeadows, Victoria, by its CSL Behring division.

In the first phase of research, a small product batch will be used to develop tests to detect the presence of antibodies that can combat the SARS-CoV-2 virus that in turns causes COVID-19. A much larger batch in the second phase will be used in wider clinical trials within Australian hospitals to test the safety of the treatment.

Donations from people that have recovered from COVID-19 will be used to develop this coronavirus-fighting product because they have high levels of antibodies in their blood. Australian Red Cross Lifeblood will collect the donations nationwide.

Up to 800 plasma donations are likely to be required to treat around 50 to 100 seriously ill coronavirus patients under the clinical trial.

CSL will look at registering the COVID-19 Immunoglobulin product with the Australian Therapeutic Goods Administration to enable ongoing supply throughout Australia if the clinical trial proves to be successful.

The Commonwealth Minister for Health, Greg Hunt, said, "Australia is playing an important role in the battle against COVID-19. CSL Behring's manufacturing facility will be one of the first in the world to commence development of a COVID-19 immunoglobulin that may provide benefit to seriously ill Australians in need of treatment."

Playing a critical role in the coronavirus fight on multiple fronts

CSL also has ongoing clinical trials being conducted at sites worldwide which are involved in evaluating promising new treatments for the coronavirus.

The company also previously announced a new partnership with rival Takeda Pharmaceutical and other leading plasma companies to fight the coronavirus. Biotest, BPL, LFB, and Octapharma all joined an alliance formed by CSL Behring and Takeda Pharmaceutical that will collaborate on the development of a potential plasma-derived therapy for treating COVID-19.

In addition, CSL is providing technical expertise and assistance to the University of Queensland in its endeavour to develop a coronavirus vaccine.

Phil Harpur owns shares of CSL Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Two lab workers fist pump each other.
Healthcare Shares

Guess which ASX 200 healthcare stock is starting the week with a bang on big news!

What is getting investors excited today? Let's find out.

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

3 small-cap ASX healthcare shares 'with strong prospects'

Fund manager IML discusses why these 3 ASX healthcare shares are likely to rise in value.

Read more »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

2 All Ords ASX healthcare shares making BIG moves on quarterly updates

These two ASX healthcare companies are seeing heavy trading on Thursday.

Read more »

A woman reclines in a comfortable chair while she donates blood holding a pumping toy in one hand and giving the thumbs up in the other as she is attached to a medical machine to collect her blood donation.
Healthcare Shares

'Trading at a discount': Why now is the time to buy CSL shares

This investing expert says CSL shares now represent an appealing buying opportunity.

Read more »

woman testing substance in laboratory dish, csl share price
Healthcare Shares

Here's what could impact CSL shares from the biotech's AGM

The biotech giant's leadership had plenty to say.

Read more »

Man with a sleep apnoea mask on whilst sleeping.
Healthcare Shares

Why this fundie is backing ResMed shares in FY25

There's plenty more upside, this fund says.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Healthcare Shares

ResMed shares jump 8% on stellar start to FY25

This high-quality company continues to deliver the goods.

Read more »

Senior woman with caregiver in the garden
Healthcare Shares

A 'golden era' is coming for these ASX healthcare shares

Here's why Blackwattle Partners sees tailwinds ahead for one particular category of healthcare shares.

Read more »