Shares in CSL Limited (ASX: CSL) could be moving in early trade after the company's annual research and development (R&D) update.
What did CSL announce today?
CSL's global R&D footprint now boasts over 1,700 scientists across the UK, Europe, China, Australia and the United States.
The group is collaborating with universities and institutions across the globe as it looks for innovative healthcare solutions.
Total R&D investment sits at 10–11% of global revenue and totalled $832 million in 2018–2019. This is predominantly in New Product Development with smaller allocations to Market Development and Life Cycle Management.
CSL shares could be worth watching this morning following key updates including regulatory approvals.
The healthcare giant continues to rollout its Hizentra product across Russia, Indonesia, Japan, Brazil and Mexico.
There are a number of products across the R&D pipeline, including Afluria QIV and Fluad QIV here in the registration phase here in Australia.
Senior Vice President Dr. Andrew Nash also touched on CSL's new product opportunities. Plasma and Recombinant are 2 key areas for the group while Gene Therapy is also providing opportunities.
CSL shares have rocketed 49.91% higher this year to $277.90 as the group smashed its own ASX record high several times.
New facilities in Australia (Melbourne), Switzerland (Bern) and the United States (Pasadena) are also expanding the group's capabilities.
CSL's R&D pipeline includes funding and collaboration initiatives across the globe as well as venture capital investments. Biotech partnerships with Momenta and strategic partnerships such as its Walter and Eliza Hall Institute alliance are also core.
The group is seeing strong demand across its portfolio including its Immunoglobulin, Coagulation, Specialty and Albumin products.
The group's shares will be worth watching after saying it remains on track to become a market leader in CIDP, a rare neurological disorder.
CSL shares have rocketed higher so far this year and the group's R&D expenditure is key to its success.
