CSL, which has major operations in King of Prussia, announced plans to expand in the U.S., reports John George for the Philadelphia Business Journal.
The Australian biopharmaceutical company plans to invest roughly $1.5 billion in its footprint over the next five years. Company leaders said the expansion will strengthen domestic manufacturing of plasma-derived therapies and support hundreds of high-quality jobs nationwide.
The investment comes during a period of significant restructuring. In August, CSL revealed it would reduce its global workforce by about 15%, or 3,000 jobs. A spokesperson said the new capital plan will not reverse previously announced layoffs, including 55 positions tied to Vifor Pharmaceuticals’ office on First Avenue in King of Prussia. Those cuts take effect Dec. 1 as part of a companywide reorganization.
CEO Paul McKenzie emphasized the importance of bolstering U.S. production. He noted the nation is the world’s largest source of plasma, the foundation of CSL’s treatments for rare and serious medical conditions. The company’s board must still approve the spending plan.
CSL has invested more than $3 billion in its U.S. operations since 2018, building a national workforce of nearly 19,000 employees. Its King of Prussia campus is home to about 1,000 CSL Behring employees.
To learn more about CSL’s expansion, visit the Philadelphia Business Journal.
