A strong start for CSL in its centenary year

Company News

CSL (ASX:CSL) has delivered a strong result for the six months to the end of December 2015, reporting an 11 per cent jump in sales and a 4 per cent increase in net profit after tax.

Sales of US$3.056 billon were underpinned by double digit sales growth in all plasma therapy groups.

The company reported strong demand for its immunoglobulin products with sales of subcutaneous therapy, Hizentra, growing 31 per cent and intravenous therapy, Privigen, up 13 per cent. It shipped the first exports of Privigen from the new Turner Manufacturing Facility in the Melbourne suburb of Broadmeadows last December.

CSL also completed the acquisition of the Novartis flu vaccine business in 2015, integrating it into bioCSL and changing that company's name to Seqirus, which is now the world's second largest flu vaccine manufacturer.

2016 is CSL's centenary, having been founded to ensure Australia had its own supply of sera, antitoxins and vaccines.

"Today, we are an established and growing global biotherapeutics leader, developing and delivering innovative therapies for patients around the world," said CEO and Managing Director Paul Perreault.

"Seqirus, our influenza vaccine business, is the second largest provider in the world with a diverse product portfolio, broad global sales reach and manufacturing capabilities in both northern and southern hemispheres. Overall, CSL is well positioned for sustainable growth and continuing to deliver value to shareholders,” he said.

The company also confirmed its full-year guidance of 5 per cent profit growth.

Mr Perreault added, “This guidance does not include financials associated with the acquisition of the Novartis influenza vaccines business, which we anticipate will report a loss in the range of approximately US$90 - 120 million this financial year. However, with the deal now closed a significant multi-year strategy has commenced to integrate this business and turn its performance around.”

CSL also announced the appointment of Dr Megan Clark AC as a Director of the company.

Dr Clark is currently a Director of Rio Tinto and a member of the Australian advisory board of the Bank of America Merrill Lynch. She was Chief Executive of the CSIRO from 2009 to 2014.

According to CSL Chairman, Professor John Shine AO, “I am extremely pleased that Dr Clark has accepted the appointment to the CSL Board. With her strong scientific and commercial background across a broad range of areas, I am sure she will make a significant contribution to the future of CSL.”