CSL plasma collection disrupted, trial delays likely

CSL says COVID-19 is disrupting plasma collection and will likely delay some clinical trials, but its profit guidance remains intact.

A CSL development laboratory.

Pharmaceutical company CSL said the coronavirus pandemic is disrupting efforts to collect plasma and will likely delay some clinical trials, but its profit guidance for the 2020 fiscal year remained intact.

CSL said it is implementing a range of initiatives to mitigate the impact of the coronavirus crisis on its collection centres, and there was the potential to accelerate plasma collections in the aftermath of the pandemic. The company added that its centres are designated as essential critical infrastructure.

CSL said it also expects modest delays in capital projects and clinical trials, but activity could accelerate once the coronavirus crisis ends to ensure no material change to management’s original plan.

CSL reaffirmed its profit guidance of $US2.11 billion - $US2.17 billion for the year through June after stripping out the impact of currency swings, and said it has $US1.1 billion in available liquidity.

CSL was due to provide more detail in an investor call on Thursday morning.

Last month CSL usurped the Commonwealth Bank as Australia’s largest listed company.

It is one of 27 ASX/300 firms whose share price has increased in value in 2020 despite a wider market downturn. CSL shares were worth $311.94 before trade on Thursday and are still 13.12 per cent higher for the year.

Dow Jones Newswires, AAP