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CSL, CSL LIMITED
early birds
post Posted: Nov 17 2020, 08:27 AM
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Melbourne will see a new high-tech vaccine manufacturing plant in a billion-dollar deal to secure the nation’s long-term supply of critical health products including influenza vaccines and life-saving anti-venoms.

The complex at Tullamarine will be the largest influenza vaccine manufacturing facility in the southern hemisphere, allowing Australia to rapidly respond to flu outbreaks and pandemics.

It will replace the existing CSL owned facility in inner-city Parkville.

The federal government will sign a $1 billion agreement with Seqirus, the influenza vaccines arm of CSL, to secure supply until 2036 of medical products that would otherwise need to be sourced from overseas.

The $1 billion in funding is for a 10 year deal for the supply of vaccines across the Australian population to protect against future flu pandemics (not the COVID-19 pandemic).

It will also secure supply for products like anti-venoms for deadly Australian creatures including snakes and spiders.

Seqirus will invest $800 million in building its new facility at Melbourne Airport Business Park, to replace the Parkville facility.

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from our own sharecafe

https://www.sharecafe.com.au/2020/11/17/can...-vaccine-boost/



 
nipper
post Posted: Nov 14 2020, 12:06 PM
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....given the diverse nature of the Australian healthcare industry, the chart below graphs the healthcare sector market capitalisation on a stock by stock basis... CSL contributed the largest share of sector growth over the last 10 years; it grew from an index weight of 1.8% in 2010 to 8.0% today, representing approximately 70% of the healthcare sector's market capitalisation growth over that period. What is even more impressive is that they achieved that without issuing a single share, in fact they bought back stock.

Chart: Healthcare sector market capitalisation (A$mn)

Source: Goldman Sachs. As at 28 October 2020.


R&D investment has contributed meaningful growth. The chart below demonstrates the growth CSL has generated, above its base business, through internally generated new products (including label extensions for existing products to new indications). Many of these new products are significantly more efficacious and/or have broader indications, meaning that in many instances they have grown the addressable market while also allowing CSL to take market share.

Just under 40% of CSL FY20 revenues were generated by products stemming from internal R&D programs. Given these products are typically very high margin, often being made from leftover source material from the base immunoglobulin business, the earnings contribution from these products would be even larger.

Chart: CSL new product revenue contribution


Source: JP Morgan. As at 4 November 2020.


https://www.sharecafe.com.au/2020/11/10/aus...s-in-10-charts/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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early birds
post Posted: Nov 13 2020, 03:34 PM
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In Reply To: nipper's post @ Nov 13 2020, 02:08 PM

thanks nipper for the info, i saw that article as well

however, he didn't mention under Biden tax rate at USA [ csl's bigest market] will jump from 21 to 28%. i don't think the writer is missed it. he just don't like to mention it!! that put me off a little!!




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nipper
post Posted: Nov 13 2020, 02:08 PM
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Interesting call; from the Sohn Hearts and Minds conference
QUOTE
One of the largest companies in Australia may not be the stock that springs to mind when thinking about the market undiscovered gems but that is how Paradices David Moberley views blood products giant CSL. There is a significant opportunity in the stock at this point in time, the fund manager said, while acknowledging that undiscovered gem is an unlikely tag for the $130 billion, top 20 listed ASX giant.

CSL shares have underperformed since March, weighed down by concerns in the market about CSL ability to find sufficient resources to fulfil customer needs, he said. The company relies heavily on blood donations as input for its treatments and the COVID 19 pandemic has made it harder for people to donate.

That has got the market concerned about future supply and what impact that will have on growth, the fund manager said, noting that the market has revised down consensus earnings on the issue. But Mr Moberley sees supply issues as a short -term hit for the company. He is been tracking data around blood collection sites and said the data suggests that, despite donor volumes remaining subdued, they have progressively increased since March.

Keep in mind that that demand profile has not changed and continues to grow, he said. The strength of that demand has prompted the US Food and Drug Administration to reduce the amount of time that an operator has to wait before using donated blood, which has shortened the inventory cycle and acts as a stopgap until donations recover, he noted.

So the supply issue is a transitory one which has been overblown by the market but has created a "rare opportunity" in CSL shares, the fund manager believes.

He described the company as one of the best businesses listed on the Australian market with a management team that is one of the country's best capital allocators. It has significant latent value in its asset base and research and development pipeline, he said.

https://www.afr.com/companies/healthcare-an...20201015-p565e8CSL is a market leader in a growing industry with significant barriers to entry that generates strong cash flow and has a rock solid balance sheet, he added..

But the market appears to have lost sight of these qualities and is focusing on a transitory COVID related impact despite signs of recovery already emerging.

Potential COVID19 vaccines and treatments are also not reflected in the CSL valuation, he said. Any success in this regard is not captured in consensus earnings in my view.

CSL is also a business that can do well regardless of the direction of the economy or volatility in the market, he said, explaining why the company is one of his highest conviction ideas.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Oct 8 2020, 09:14 AM
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CSL Limited today announces that its subsidiary, Seqirus, has signed a final agreement with the Commonwealth of Australia for the supply of 51 million doses of the University of Queensland CSL COVID19 vaccine candidate (V451), should clinical trials be successful.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Sep 19 2020, 11:23 AM
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Spotlight on CSL Revenue Targets

https://www.sharecafe.com.au/2020/09/14/spotlight-on-csl-revenue-targets/






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 


nipper
post Posted: Aug 24 2020, 06:07 PM
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US allows emergency use of blood plasma treatment for coronavirus patients



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 19 2020, 01:21 PM
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softly, softly

CSL has 5 Covid related projects, the first being the partnership with the University of Queensland and the Coalition for Academic Preparedness and Innovation. This is in a Phase One study, and CSL has agreed to manage Phase two and Phase three registration and to manufacture the vaccine should the trials be successful.
I am pleased to advise that we now estimate first doses of the UQ vaccine will be available for ... emergency use by the middle of 2021," CEO Paul Perreault told a news conference. "This revised timeline is a result of further planning to align clinical and regulatory with the manufacturing activities and the obvious public health need to accelerate development as much as possible.

The second area of research is through the CoVIg-19 Plasma Alliance, which is a partnership of the world's leading plasma companies – Biotest, BPL, CSL Behring, LFB, Octapharma and Takeda. Perreault says this potential plasma-derived hyper immune therapy is beginning patient trials in the US and Europe this month.
The third option is a similar plasma product for the Australian market to be known as COVID19 immunoglobulin. This is being developed at the CSL Broadmeadows facility in Melbourne in a partnership with the Australian Red Cross, which has arranged for 500 donors to support the first batch of the product from the clinical trial.
The fourth option is a partnership with SAb Biotherapeutics to deliver a novel immunotherapy targeting COVID19.

The fifth program is a trial with the current CSL pipeline product Garadacimab to see if it has effect for patients suffering from respiratory distress or serious consequence of COVID19.

There is a sixth option in relation to COVID19 and that is the AstraZeneca vaccine proposal, which has the support of the federal government. Perreault said CSL was involved in discussions to advance this project and may be involved in the manufacture of the vaccine.

QUOTE
With all of these projects, whether it is preventative with the vaccine or preventing progression with a hyper immune or using a monoclonal antibody like Garadacimab, there is a risk of failure, even when we have selected opportunities we think make sense both scientifically and [for] efficacy, he said.

It is important that the public understands these risks and that no single vaccine or therapeutic approach is going to solve this global health crisis.

We are heartened by the extraordinary amount of scientific collaboration happening across the industry, academia and government, including many initiatives we are proud to be a part of and we remain cautiously optimistic.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 19 2020, 10:15 AM
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In Reply To: mullokintyre's post @ Aug 19 2020, 09:51 AM

the plasma biz is the powerhouse... Covid interrupted collections but having some 6 month supply helped smooth over things
It will be interesting with any virus vaccine. Might be some shift work coming up at Broadie, if the Oxford trials work.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Aug 19 2020, 09:51 AM
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CSL, another solid but not spectacular result.
Revenue up 6%, NP up 10%.
One of the very stocks to even pay a dividend, much less increase it by 7%.
The new Broadmeadows plant should be fully operational for this fin year.
Will keep holding as along term investment.
Mick



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