CSL flags mid-2021 to manufacture emergency COVID-19 vaccine
Australian biotechnology giant CSL has flagged manufacturing 100 million doses of a COVID-19 vaccine by mid next year and reported higher full-year earnings.
Biotechnology giant CSL says its partnership with University of Queensland could deliver a potential vaccine for coronavirus in 2021 and has posted a lift in full-year net profit.
The company is collaborating with the university and the non-profit Coalition for Epidemic Preparedness Innovations to accelerate the development and manufacture of a COVID-19 vaccine and is also working on treatments.
“We know the protein-based design of this vaccine because it’s one that’s been around for quite a while and believe that from a safety perspective, it should be OK,” CSL chief executive Paul Perreault told reporters on Wednesday.
“But we really have to look at efficacy. We have to look at the dose, we have to see if it’s one shot, two shots.
“But if the trials pan out and it’s a safe and effective product, we think we’ll be able to manufacture at least 100 million doses by mid next year that could be used for emergencies because official approval may take a little bit longer.
“We’re cautiously optimistic.”
The company, one of the world’s largest collectors of human plasma, said the pandemic had placed pressure on the global market and would affect its financial performance for the 2021 financial year.
“The collection of plasma has been adversely impacted in the past few months as communities respond to shelter-in-place orders, extended lockdowns and other government actions,” Mr Perreault said in CSL’s full-year results announcement.
Collections dropped around 25 per cent in the June quarter but are believed to have improved.
Macquarie Research said it continued to view plasma collections as the key driver of CSL’s near-term outlook.
For the 12 months to June 30, CSL posted a net profit of $US2.103 billion ($A2.91 billion), up 10 per cent or 17 per cent stripping out the impact of exchange rate movements.
Net profit for the current financial year is forecast to be slightly lower at $US2.1 billion.
CSL is investigating four other therapeutic candidates.
“There are multiple R&D programs and partnerships aimed at fighting COVID-19, including in the areas of vaccines, monoclonal antibodies and plasma therapies.”
The company issued a final dividend of $US1.07 ($A1.48) per share, bringing the total dividend payout to $US2.02 ($A2.79) per share, up 9 per cent.
It has liquidity totalling $3.1 billion.
Shares in CSL were up around 8 per cent at $316.55 in intraday trade.