The Australian-based biopharma company, CSL, plans to invest almost $1.5 billion in the next five years so as to expand its presence in the U.S. However, this is going to be subject to the approval from the board of directors.
According to the CEO & MD of CSL, Paul McKenzie, the U.S. is the leading source for plasma and also the main component when it comes to plasma-derived therapies in the world. These significant medicines are the most effective, or rather the only, therapies that are available for numerous rare or serious diseases.
Through expanding their onshore production capacity within the U.S., they are indeed deepening their commitment when it comes to patient care, thereby creating high-quality jobs and also driving innovation in the U.S.
It is well to be noted that CSL employs over 29,000 people across the world, and its products are getting used in more than 100 countries. It has three businesses, which include CSL Behring, and also its portfolio has treatments pertaining to hemophilia as well as immune deficiencies, influenza vaccines, and also dialysis, iron deficiency, and nephrology therapies.
In order to meet the growing clinical requirements for immunoglobulin, expansion is a part of the commitment made by the company. It is going to strengthen the U.S. manufacturing capacities related to plasma-derived therapies and hence help the U.S. secure the medicine supply chain and, at the same time, create many jobs.
Notably, CSL has invested over $3 billion in its U.S. operations already since 2018, and the American workers go on to represent almost 65% of its workforce.
