The CSL Ltd (ASX: CSL) share price is slightly in the red today despite some positive news from the company.
CSL shares are sliding 0.34% and are currently fetching $299.22. For perspective, the S&P/ASX 200 Health Care Index (ASX: XHJ) is sliding 0.25% today.
Let's take a look at what is going on with CSL today.
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FDA approval for Hizentra
CSL is not the only ASX healthcare share in the red today. Ramsay Health Care Ltd (ASX: RHC) shares are down 0.7%, Pro Medicus Ltd (ASX: PME) shares are sliding 0.18%, and Resmed Inc (ASX: RMD) shares are down 0.48%.
In news out of the company, CSL Behring today advised the U.S. Food and Drug Administration (FDA) has approved a 50mL/10gm prefilled syringe for Hizentra.
Hizentra is the only immune globulin (Ig) that is accessible in a convenient ready-to-use prefilled syringe.
The 50mL syringe will be available in early 2024, providing the company with time to provide enough supply to meet demand.
This will help people with Primary Immunodeficiency (PI) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).
Hizentra will still be available in 5mL, 10mL, and 20mL prefilled syringes and 5mL, 10mL, 20mL, and 50mL vials in the meantime.
Commenting on the news, CSL Behring senior vice president and general manager for North America Bob Lojewski said:
We are proud to be at the forefront of delivering effective treatment options that also provide flexibility by allowing those with PI or CIDP to self-administer their treatments based on their specific needs and lifestyles.
As part of our promise to meet the needs of people who rely on our life-saving therapies, we recognize the important value of offering people with PI or CIDP a larger prefilled syringe size option to effectively manage their condition
As my Foolish colleague James reported today, multiple brokers are positive on the CSL share price going forward. Citi, Macquarie and Morgans all have a "buy" rating on CSL. Citi has a $350 price target on the company's share price, Macquarie forecasts CSL to hit $344 and Morgans has a $337.92 prediction for CSL. This is all significant upside on CSL's current share price.
Share price snapshot
CSL shares have gained 13.68% in the last year.
CSL has a market cap of about $143.9 billion based on the current share price.
