Why the CSL (ASX:CSL) share price will be on watch today

The CSL Limited (ASX:CSL) share price will be on watch on Tuesday. Here’s why…
The post Why the CSL (ASX:CSL) share price will be on watch today appeared first on The Motley Fool Australia. –

A health worker drug testing in a lab to find 'covid-19 vaccine' representing covid shares

The CSL Limited (ASX: CSL) share price will be on watch on Tuesday following news that another COVID-19 vaccine is expected to be given approval in the United Kingdom this week.

What was announced?

According to CNBC, the COVID-19 vaccine being developed by AstraZeneca and the University of Oxford, AZD1222, is expected to be approved for use in the United Kingdom later this week.

This follows reports in the Financial Times which claim that government officials have confirmed that the Medicines and Healthcare products Regulatory Agency would imminently approve the vaccine, potentially as soon as Tuesday.

This comes a day after the United Kingdom reported approximately 30,500 daily infections and 316 deaths after a more transmissible COVID strain spreads across the country.

Why does this matter for CSL?

The potential approval of AZD1222 in the United Kingdom could be good news for CSL and Australia because the biotech giant has already commenced manufacturing of the vaccine candidate at its advanced manufacturing facility in Broadmeadows, Victoria.

This followed the receipt of separate contracts with AstraZeneca and the Australian Government to manufacture approximately 30 million doses of the AZD1222 vaccine candidate, with the first doses planned for release in 2021, pending the outcome of clinical trials and regulatory approval.

Is this vaccine the one?

The editor-in-chief of The Lancet medical journal, Dr. Richard Horton, believes this vaccine could be used around the globe more effectively than others.

He told CNBC: “The Oxford/AstraZeneca vaccine is the vaccine right now that is going to be able to immunize the planet more effectively, more rapidly than any other vaccine we have,” adding that it was important to think about vaccine immunisation on a global scale “because even if we immunize one country, the threat then is you reintroduce the virus from another country that is not protected.”

AstraZeneca’s CEO, Pascal Soriot, expects the vaccine to be highly effective. He told the Times newspaper this weekend that he is convinced that subsequent data will show that this vaccine achieved an efficacy rate equal to the others, at above 90%.

Where to invest $1,000 right 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.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the CSL (ASX:CSL) share price will be on watch today appeared first on The 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!