CSL profit rebounds on plasma, blockbuster drug sales
Blood products giant CSL has lifted full year underlying profit 10 per cent to $US2.61 billion ($4 billion) after a surge in sales of its core immunoglobulin division led by blockbuster therapies Privigen and Hizentra.
Underlying net profit after tax and amortisation, accounting for currency fluctuations, rose 20 per cent and showed a strong rebound in its core CSL Behring business of immunoglobulin-based treatments for chronic immune system, deficiencies, which had been affected by the COVID-19 pandemic.
Paul McKenzie took the reins as CEO of the blood products giant from Paul Perreault in March.
Earnings per share grew just 6 per cent to $US5.41 (17 per cent) and the company declared a final dividend of $US1.29 a share, making $US2.36 in total dividends (up 6 per cent), or $3.59 a share for Australian shareholders.
CSL chief executive Paul McKenzie, who took over from Paul Perreault in March, said CSL Behring had “rebounded strongly driven by exceptional growth in immunoglobulin sales and record plasma collections”.
It was in the middle of CSL’s guidance for full-year net profit after tax and amortisation of $US2.7 billion to $US2.8 billion at constant currencies.
CSL reported at the half-year results in February that its “liquid gold” plasma collections had recovered from a Covid-era slump caused by social distancing and border closures between the United States and Mexico to be 10 per cent above pre-pandemic levels. But the cost of plasma collections had also increased, crimping margins and profits.
Last year CSL added Switzerland’s Vifor’s renal therapy and iron deficiency products business to its portfolio of blood products, vaccines and speciality products after an $US11.7 billion takeover.
CSL is the global
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