Shares of CSL Limited (ASX: CSL) have defied the market's downwards trend today, lifting 2.1% to $96.60 following a market sensitive announcement from the company.
The global biopharmaceutical giant, which develops and manufactures products for the treatment and prevention of various human medical conditions, confirmed that the US Food and Drug Administration (FDA) would review its single-chain factor VIII treatment for haemophilia A. This is after the clinical trial showed promising results, meeting all primary endpoints.
As described by the Haemophilia Foundation Australia, haemophilia is "an inherited bleeding disorder where the blood doesn't clot properly." Haemophilia A is the most common form of the disorder and is caused by having reduced levels of factor VIII, which is a clotting protein.
While sufferers can experience prolonged or spontaneous bleeding in the muscles, joints or internal organs, it is clear that haemophilia can be a potentially life-threatening condition which, according to CSL, affects approximately 1 in 6,000 male births.
In regards to the rVIII-SingleChain trial, CSL said: "Specifically designed for greater molecular stability, rVIII-SingleChain is the first and only single-chain factor VIII (FVIII) product in late-stage development for the treatment of haemophilia A".
Indeed, CSL plays a key role in the global biopharmaceutical industry and has generated enormous returns for shareholders as a result. In fact, over the last 12 months, 5 years and 10 years, the shares have risen 44%, 194% and 733% respectively, heavily outpacing the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and fellow market darlings Commonwealth Bank of Australia (ASX: CBA) and Telstra Corporation Ltd (ASX: TLS) in each of those periods.
Source: CMC Markets
Despite its incredible historical gains, CSL Limited could still be a reasonable prospect for long-term investors wanting to profit from the global healthcare trend (not to mention the weaker Australian dollar). Indeed, the company continues to expand internationally and, as the population continues to grow and age, companies like CSL will play an increasingly vital role in society.
