CSL Behring and Takeda Pharmaceutical Are Leading a Coalition to Develop a COVID-19 Hyperimmune Therapy
CSL Behring (OTC: CSLLY) and Takeda Pharmaceutical (NYSE: TAK) are joining forces with four other companies -- Biotest, Bio Products Laboratory, LFB, and Octapharma -- to develop a plasma-derived antibody treatment they hope will prove effective against COVID-19, the disease caused by the novel coronavirus. Rather than compete against each other, the alliance plans to develop one unbranded product.
"Unprecedented times call for bold moves," Julie Kim, president of Takeda's plasma-derived therapies business unit, said of the decision to cooperate on the treatment. "We invite companies and institutions focusing on plasma to support or join our alliance."
Hint, hint, EmergentBiosolutions (NYSE: EBS), which is developing plasma-based drugs of its own.
Source Fool.com
