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CSL surge boosts ASX indexes

CSL boosted Aussie indexes on Wednesday after the healthcare giant rose 8.5% to close at a four-week high of $263.69, following the reporting of a $1.8 billion half-year profit.

While the NPAT figure was down 5%, performance was in line with expectations following strong growth in the company’s market-leading haemophilia B product, specialty products, the influenza vaccines business, Seqirus, and a rebound in HPV royalties

CSL’s core franchise, the immunoglobulin portfolio, was impacted by industrywide constraints on collecting plasma in FY21 during the course of the global pandemic.

Although the company responded by implementing multiple initiatives in its plasma collections network, which has given rise to significant improvement in plasma volumes collected.

Furthermore, key products, not limited by plasma collections, continued a strong growth trajectory. CSL’s leading recombinant haemophilia B product, IDELVION, increased sales by 17% with its clinical profile driving patient demand and market share.

KCENTRA, CSL’s peri-operative bleeding product, grew a 15% as hospital demand began to return to pre-pandemic levels. While HAEGARDA, the company’s transformational therapy for patients with Hereditary Angioedema, increased 7% driven by the continued shift from on-demand to prophylaxis treatment and successful new launches.

HPV royalties were up 134% as sales rebounded strongly to pre-COVID levels following strong demand and increased supply.

The influenza vaccines business, Seqirus delivered a strong performance with revenue up 17% . This was achieved by significant growth in seasonal influenza vaccines driven by record demand and Seqirus’ differentiated and high value product portfolio.

During the period, CSL also announce the agreement to acquire Vifor Pharma Ltd. This acquisition intends to accelerate of the company’s 2030 Strategy, by further enhancing focus on “therapeutic leadership areas, innovation, and sustainable growth”.

Mr Paul Perreault, CSL’s Chief Executive Officer and Managing Director said, “CSL has delivered a result in line with our expectations in a challenging environment brought about by the ongoing impacts of the global COVID pandemic.”

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