SYDNEY, Feb. 18, 2026, 17:04 AEDT — The market has closed.
CSL Ltd (CSL.AX) jumped up to 2.1% on Wednesday after the Australian biotech signed a licensing agreement with Eli Lilly (LLY.N) for clazakizumab, an investigational antibody currently in trials for end-stage kidney disease.
CSL picks up $100 million upfront, plus potential milestone payouts and royalties tied to development, regulatory wins and sales. In its ASX filing, CSL emphasized it’s holding on to exclusive rights for targeting cardiovascular events in dialysis patients with end-stage kidney disease, while Lilly is set to chase other uses. The company called the deal a “significant step forward” and said clazakizumab “a promising therapeutic candidate.” CSL Limited
CSL has a point to prove: it’s pitching its pipeline and overhaul as a recipe for more consistent growth. In last week’s half-year update, the company posted a statutory net profit after tax of $401 million—this figure already includes restructuring charges and impairments. The buy-back? Now lifted to US$750 million. Finance chief Ken Lim’s verdict: “We are clearly not satisfied with our performance.” CSL Limited
CSL ended the session 0.78% higher at A$152.74, bouncing between A$152.19 and A$154.84 during the day, according to data.
CSL snapped up another 50,829 shares on Tuesday, according to a separate filing, bringing its cumulative repurchases ahead of that session to 3,222,995 shares. The company shelled out A$7.68 million for the latest tranche. The on-market buyback, capped at US$750 million, is set to run until June 30, 2026.
Not much action across the wider market. Australia’s ASX200 edged up 0.16% Wednesday.
But clazakizumab’s financial picture is far from certain. The medicine remains in a late-stage trial, and most of the potential payout depends on hitting milestones, regulatory green lights, and eventual sales—none of which are guaranteed, even if that initial cash comes through as scheduled.
Traders are eyeing whether CSL manages to maintain Wednesday’s initial surge, and if the buyback continues snapping up shares on any pullback. Looking ahead, the stock is set to go ex-dividend March 10, with March 11 as the record date and payment coming April 9.
