CSL delivers $1.8 billion net profit
CSL Limited today announced a reported net profit after tax of $1.8 billion for the six months ended 31 December 2020, an increase of 45% compared to the previous corresponding period. The results were reflected by:
Solid growth in core immunoglobulin portfolio led by HIZENTRA®
Successful transition to its own distribution model in China
Strong growth in the leading HAE product HAEGARDA®
Exceptionally strong performance by Seqirus
Full financial recognition of contracted income for UQ COVID-19 vaccine in first half, after program termination
CSL’s core franchise, the immunoglobulin portfolio, continued to perform well led by its subcutaneous product HIZENTRA. For which sales grew strongly, up 19% reflecting the benefits of home administration and the continued strong uptake for the treatment of the debilitating neurological disorder CIDP (Chronic Inflammatory Demyelinating Polyneuropathy).
Albumin sales grew at a strong 93%, largely reflecting the transition to the company’s own distribution model in China.
Sales of transformational therapy for patients with Hereditary Angioedema, HAEGARDA, increased 16% with new patients continuing to take up the innovative therapy.
CSL’s influenza business Seqirus, delivered an exceptionally strong performance, more than doubling earnings before interest and tax to $693 million. This was achieved by significant growth in seasonal influenza vaccines driven by record demand and the ongoing shift to Seqirus’ differentiated portfolio.
CSL’s net profit after tax for FY21 is anticipated to be in the range of approximately $2,170 million to $2,265 million, representing growth over FY20 of up to 8%.
Commenting on CSL’s outlook, Chief Executive Officer and Managing Director Mr Paul Perreault said, “Demand for CSL’s core plasma, and influenza vaccine products remains robust. Consistent with the seasonal nature of the business we anticipate, however, a loss in the second half of the year. COVID-19, however, will continue to have an impact on CSL. We remain the industry leader in opening new plasma collection centres and investing in future innovation - positioning CSL to emerge strongly when the COVID-19 crisis recedes.”