CSL has announced a 10 per cent increase in net profit after tax to $2.103 billion with strong growth across its product portfolio.
“I am pleased to report an exceptional result against a backdrop of complex and unexpected challenges brought about by the COVID-19 pandemic,” said CEO and managing director Paul Perreault.
“Our largest franchise, the immunoglobulin portfolio performed extremely well, with PRIVIGEN sales growing 20% and HIZENTRA sales up 34%.
"Underpinning this growth has been continued high patient demand for chronic conditions such as Primary Immune Deficiency, increased utilisation in the treatment of Secondary Immune Deficiency, together with the expanded CIDP label claim for both products.
"CIDP (Chronic Inflammatory Demyelinating Polyneuropathy) is a debilitating neurological disorder. HIZENTRA® growth has been especially strong, partly driven by increased demand for home-based treatments during the current pandemic,” said Mr Perreault.
He continued, “Albumin sales grew well in key markets with the planned exception of China, where we transitioned to our new direct distribution model. This transition has seen overall albumin sales decrease 36%, which is in line with guidance.
"The China transition is now complete and will improve CSL’s participation in the value chain as well as allowing us to now work directly with clinicians. The availability of albumin to patients has not been impacted and reported sales are expected to return to a more normalised level in FY21,” said Mr Perreault.
“HAEGARDA, our therapy for patients with Hereditary Angioedema (HAE) and IDELVION, our therapy for Haemophilia B patients, have been transformational products and the sales growth reflects this. HAEGARDA® sales grew by 12%2 and IDELVION® sales are up 25%,” said Mr Perreault.
The CSL CEO said the company's five-year-old flu vaccine business, Seqirus, reported a 70 per cent rise in sales driven by FLUCELVAX and FLUAD.
The company said the COVID-19 pandemic has presented challenges, including to its employees, its supply chains and the collection of plasma.
It said demand for its therapies remains strong, especially for immunoglobulins and flu vaccines.
The company, which said it has historically held a conservative approach to liquidity and leverage, recently bolstered its balance sheet through a $750 million capital raise.
On the company's outlook, Mr Perreault said, “Demand for CSL’s plasma, recombinant and vaccine products continues to be robust.
“The COVID-19 pandemic does, however, present a challenge for the global plasma industry. The collection of plasma has been adversely impacted in the past few months as communities respond to shelter-in-place orders, extended lockdowns and other government actions. To mitigate this, we have a number of initiatives in place to sustain plasma collections.
"It is our view that, at some point, the pandemic will recede and, with that in mind, we continue to invest in plasma collection and manufacturing facilities as well as our hallmark research and development programs.
“Seqirus is expected to continue to perform well and deliver another strong profitable year. Governments around the world want to protect their populations from the potential," he added.