MELBOURNE, March 11, 2026, 09:36 AEDT
- CSL plans to spend $1.5 billion expanding its Kankakee, Illinois, facility, aiming for the site to go live by 2031 and create at least 300 new pharma jobs.
- CSL is zeroing in on its plasma unit, following last month’s leadership shakeup and a staggering 81% fall in first-half profit.
- CSL scooped up 62,472 of its own shares for roughly A$9.1 million on March 10, according to an ASX filing dated March 11.
CSL Limited has kicked off construction on a $1.5 billion expansion at its Kankakee, Illinois, plant, sharpening its focus on the business segment leaders hope will fuel future growth. The project targets increased production of plasma-derived therapies—drugs sourced from proteins in donated human plasma—and is set to come online by 2031, bringing at least 300 new pharma jobs with it.
Timing’s key here. CSL last month reported an 81% plunge in first-half net profit, took hefty impairment charges, and installed Gordon Naylor as interim CEO after Paul McKenzie retired. Now, investors are eyeing the Behring plasma business to see if it can drive a turnaround.
The announcement comes as big pharma companies accelerate their U.S. manufacturing efforts, with Washington considering a 100% tariff on imported branded and patented drugs. Back in November, CSL outlined a $1.5 billion plan to expand its U.S. production. Now, the Illinois launch pins down a specific location, sets out job goals, and aims for a 2031 operational date.
CSL plans to roll out its Horizon 2 process for the Kankakee expansion, aiming to pull more immunoglobulin—a plasma-derived antibody drug—from the same supply. Chief Operating Officer Mary Oates called the move “an important step forward,” pointing to gains in efficiency and higher protein yields per gram of plasma collected. Global Newsroom | CSL
“Behind every plasma-derived therapy is a person trying to live a more stable life,” Naylor said. He pointed to the expansion as a way to reinforce an important supply hub, especially with demand picking up both in the U.S. and internationally. Global Newsroom | CSL
Naylor stuck to that message following February’s results, pointing analysts to CSL’s blood-plasma unit as the company’s key lever. The half-year numbers echoed this, with the report calling Behring the engine for growth in the second half.
The move further cements CSL’s footing in plasma-derived therapies and albumin—a blood volume restorer—putting it up against Takeda from Japan and Spain’s Grifols. Each of these three players operates at least one U.S. plant making human albumin destined for China.
CSL finished Tuesday at A$144.56, gaining 1.65% for the session, though the stock remains close to its 52-week low set back on March 9.
CSL snapped up 62,472 shares on March 10 for A$9.06 million, according to a March 11 ASX filing detailing its ongoing on-market buyback. The document also flagged that 4.11 million shares had already been repurchased ahead of Tuesday’s transaction.
CSL’s interim dividend—$1.30 a share—went ex-dividend on March 10, with payment set for April 9. The Illinois project, though, isn’t a quick turnaround. CSL’s guidance from February holds steady: revenue growth of about 2%-3% and net profit after tax and amortisation up 4%-7% this year, before factoring in one-off costs. That’s CSL’s preferred metric for underlying earnings.
The near-term mix remains a risk. CSL flagged a weaker second half for Seqirus, citing flu seasonality, and Vifor is still feeling the pinch from generic rivals. The Illinois expansion is a play for future gains, but fiscal 2026 pressure doesn’t let up.
