The CSL Limited (ASX: CSL) share price has been wobbling over the past few months. We take a closer look at the company, and its most recent update.
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The CSL Limited (ASX: CSL) share price has been wobbling in recent times following the company’s ongoing plasma collection issues. Investors hit the sell button in February and March after digesting CSL’s half-year results announcement and experiencing a broader market slump thereafter.
While the global biotech’s shares have stabilised for now, the company is still facing headwinds.
At the time of writing, CSL shares are swapping hands for $271.38, up 0.16%.
What’s going on with CSL?
CSL has been in the spotlight receiving heavy media attention about its plasma stockpile, and AstraZeneca plc (NASDAQ: AZN) COVID-19 vaccine update.
First and foremost, CSL’s plasma collections have taken a hit over the past 14 months, adversely impacted by the pandemic. Fewer people are donating blood to the company’s collection centres as countries go into lockdown following new COVID-19 waves.
Plasma, derived from blood, is a key ingredient in the production of life-saving therapies. CSL’s most recent update in March advised that December 2020 plasma volumes stood at 80% of December 2019 levels.
The company has been busy targeting marketing initiatives to increase collections, along with opening new centres.
Only time will tell if the biotech leader can build back up its plasma stockpile in the short-term.
Moving on, CSL provided an update last Saturday on its COVID-19 vaccine manufacturing numbers. It said that over 1 million doses are being produced each week and is scheduled for release in mid-May. This is provided that the required quality checks are approved.
CSL noted that there is about a 4-week quality control and approval process in which each batch is stringently tested. This is undertaken by AstraZeneca, the Australian Therapeutic Goods Administration (TGA) and CSL.
To date, over 3.7 million doses of locally made AstraZeneca COVID-19 vaccines have been released. However, current COVID-19 vaccinations administered across the country stands at around 2.3 million. The remaining 1.4 million vials are either sitting in cold storage or facing transportation delays to clinics and pharmacies.
CSL share price summary
Over the course of the past 12 months, CSL shares have taken investors on a rollercoaster ride, down 9%. The company’s shares are currently sitting just below the mid-range of $242.00 to $320.42 achieved over the year’s timeframe.
On valuation grounds, CSL is the third largest company on the ASX with a market capitalisation of roughly $123 billion.
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Aaron Teboneras 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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.