CSL (ASX:CSL) has announced a strong full-year result with net profit after tax up 17 per cent to US$1.919 billion on the back of an 11 per cent jump in revenue.
The result was headlined by an 11 per cent jump in sales from the company's immunoglobulin business, CSL Behring, from US$6.7 billion to US$7.2 billion.
“Our largest franchise, the immunoglobulin portfolio, is performing exceptionally well, with Privigen sales growing 23% and Hizentra sales up 22%," said CEO and managing director, Paul Perreault.
"In part, driving the growth in demand has been our new CIDP (Chronic Inflammatory Demyelinating Polyneuropathy – a debilitating neurological disorder) indication for Hizentra and the inclusion of this indication for Privigen in the US market.”
The company said CSL Behring albumin sales into China "made a strong resurgence in the second half" with global sales up 15 per cent on the previous year to US$1 billion.
Sales in the company's Seqirus vaccine business rose 14 per cent to US$1.018 billion.
“Our Seqirus influenza vaccines business is delivering on strategy and is positioned well in the market place with a differentiated product portfolio and production process innovation,” said Mr Perreault.
The company said it had added a significant number of centries to its global plasma collection network with plans to add another 40 in financial year 2020 (FY20).
Mr Perreault said it expects to report net profit after tax in FY20 of US$2.050 billion to US$2.110 billion at constant currency, representing growth of approximately 7-10 per cent.
"This growth takes into account the one-off financial headwind of transitioning to a new model of direct distribution in China.” he said. This one-off impact is expected to reduce albumin sales by approximately US$340 - US$370 million.
“Seqirus is expected to continue to perform well and deliver in line with prior guidance, benefiting from product differentiation and process improvement,” added Mr Perreault.