CSL looking to strong post-pandemic growth

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CSL has announced a net profit after tax of $2.255 billion for the 12 months ended 30 June 2022 and new carbon emission targets.

The company said its profit was down 6 per cent on a constant currency basis but that the result was at the top of its guidance.

“Despite the uncertain environment, we have carefully managed our costs and significantly boosted our investment in Research and Development, supporting our commitment to providing innovative medicine to patients,” said CEO and managing director Paul Perreault.

Mr Perreault the impact of the pandemic on plasma collections in 2021 had constrained sales of its related therapies in 2022 because of the long-term manufacturing cycle.

“As the year progressed, we grew plasma collections significantly, albeit at a higher cost. Collections were up 24%, which we expect will underpin strong sales growth in our core plasma products, Ig and albumin, going forward. Having said that, the pandemic has put us two years behind projected growth in plasma collections - which is suboptimal for patient care,” he said.

“Two of our key products, not limited by plasma collections, have continued their strong performance. Our leading recombinant haemophilia B product, IDELVION, increased sales by 20% with its compelling clinical profile driving patient demand and market share. KCENTRA, our peri-operative bleeding product, grew 18% as hospital demand returned to pre-pandemic levels.

“HPV royalties were up 55% rebounding strongly to now exceed pre-COVID levels following strong demand and increased supply.

“Our influenza vaccines business, CSL Seqirus, delivered an exceptional performance with revenue up 13%, achieved by growth in seasonal influenza vaccines driven by their differentiated and high-value product portfolio.”

CSL recently completed the acquisition of Vifor Pharma. It has announced a plan to integrate the company as CSL Vifor but to rename the division. It also plans to rename Seqirus.

The company expects to report a net profit after tax in the financial year 2023 in the range of $2.4 to $2.5 billion, at constant currency and excluding CSL Vifor.

Mr Perreault also announced the company's new carbon emission targets. He said it is targeting a 40 per cent reduction of scope one and two emissions by 2030 and will also work to align reduction targets with its suppliers.

“For over a century, CSL has earned trust by striving to fulfil our promise to improve the lives of patients and safeguard public health,” said Mr Perreault. “We intend to continue earning that trust, as a company committed to a healthier world.”