Key franchise delivers for CSL as plasma collections top pre-pandemic levels

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CSL's largest franchise has delivered 19 per cent revenue growth for the six months to the end of December 2022 with the company reporting an overall net profit after tax of $1.62 billion.

The company's immunoglobulin franchise reported revenue of $2.77 billion underpinned by a 36 per cent increase in plasma collections that had been significantly impacted by the COVID-19 pandemic. It said collection levels are now 10 per cent above pre-pandemic levels.

“CSL delivered a solid performance in the first half of the financial year demonstrating the strong fundamentals of the company and the disciplined execution of our patient-focused strategy," said CEO and managing director Paul Perreault.

“Our focused investment across our business units underpinned our resilience throughout the pandemic, and as we emerge from it we are starting to deliver positive momentum behind our sustainable growth agenda."

Overall, CSL reported revenue for the six months of $4.556 billion, an 11 per cent increase in revenue for the six months.

The company's vaccine franchise, CSL Seqirus, recorded a 9 per cent increase in revenue to $1.738 billion.

Other highlights for the period include a licence agreement for a late-stage self-amplifying mRNA vaccine technology, completing the acquisition of Vifor, US approval of the first gene therapy for haemophilia B (HEMGENIX), and the announcement that Dr Paul McKenzie will succeed Mr Perreault as its CEO and managing director in March.

“Our leading recombinant haemophilia B product IDELVION, increased sales by 22% with its compelling clinical profile driving patient demand and market share," said Mr Perreault.

"KCENTRA, our perioperative bleeding product, grew 8% as hospital demand returned to pre-pandemic levels."

He said the strong performance of the company's vaccine business (CSL Seqirus) was achieved against a backdrop of reduced rates of immunisation.

“During the period, we successfully completed the acquisition of Vifor Pharma and CSL Vifor contributed 5 months of earnings towards our first half result. I am confident that CSL Vifor will add value to CSL’s shareholders and towards the sustainability of CSL’s growth."

Looking ahead, Mr Perreault said the company expects to see continued strong growth in its immunoglobulins franchise and looks forward to the US launch of HEMGENIX.

“Seqirus continues to perform strongly and will deliver another profitable year. Consistent with the seasonal nature of the business we anticipate, however, a loss in the second half of the year," he said.

The company reaffirmed its full-year 2023 guidance that anticipates net profit after tax of $2.7 billion to $2.8 billion at constant currency.