CSL (ASX:CSL) share price higher after starting COVID-19 vaccine manufacturing

The CSL Limited (ASX: CSL) share price pushed higher on Monday after commencing the manufacturing of a COVID-19 vaccine…
The post CSL (ASX:CSL) share price higher after starting COVID-19 vaccine manufacturing appeared first on Motley Fool Australia. –

Doctor holding small world globe in one hand and a Covid vaccine needle in the other

The CSL Limited (ASX: CSL) share price was a positive performer on Monday and pushed higher with the market.

The biotherapeutics company’s shares ended the day 1% higher at $304.92.

Why did the CSL share price push higher?

As well as getting a boost from improving investor sentiment, CSL’s shares were given a lift by the release of an announcement relating to its COVID-19 vaccine activities.

According to the release, this morning CSL commenced the manufacturing of the University of Oxford/AstraZeneca AZD1222 COVID-19 vaccine candidate at its advanced manufacturing facility in Broadmeadows, Victoria.

This is before the vaccine candidate has even completed its trials or been approved for use.

The company has separate contracts with both AstraZeneca and the Australian Government to manufacture approximately 30 million doses of the AZD1222 vaccine candidate. The first doses are planned for release in the first half of 2021, pending the outcome of clinical trials and regulatory approval.

What now?

According to the release, the manufacturing process will start with the thaw of vials containing vaccine cells. The cells, which were frozen under liquid nitrogen to preserve their integrity, need to be thawed in preparation for replication in the bioreactors at the company’s Broadmeadows facility.

After growing in the bioreactors, the vaccine is then filtered and purified leaving just the antigen, or vaccine product. It is then ready for final formulation and filling into dosage vials.

During 2020/2021, CSL will manufacture eight large scale batches of vaccine drug substance. Should the vaccine demonstrate its safety and efficacy in clinical trials that are currently underway, it is anticipated that it will require a two dose per person regime.

The company notes that the Australian Government has provided support in order to augment its capacity and capability to manufacture the AZD1222 vaccine.

This support has enabled the acquisition of specialised equipment and production inputs, the recruitment, training and redeployment of dozens of additional production personnel, and the reconfiguration of air handling and some structural modification to the manufacturing facilities.

Pleasingly, despite the commencement of these activities, it has been able to maintain commitments to manufacture the company’s vital core biotherapies.

CSL’s Chief Scientific Officer, Dr Andrew Nash, commented: “This is an important milestone and marks the end of many months of around the clock preparation by our skilled personnel globally within CSL Behring, Seqirus and research and development. Both campaigns are still technically challenging but at this time we are tracking well and expect to produce the AZD1222 and the UQ-CSL V451 vaccine for Australia by mid-2021.”

“There’s still a long way to go and our first priority resolutely remains the safety and efficacy of the vaccines we produce. We are undertaking these manufacturing activities at-risk and in parallel with the clinical trials and approvals processes in recognition of the significant urgency of the COVID-19 pandemic,” he concluded.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro has no position in any of the stocks mentioned. 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.

The post CSL (ASX:CSL) share price higher after starting COVID-19 vaccine manufacturing appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!