Ebene News – AU – CSL (ASX: CSL) delivers $ 2 A Profit 3B in S1 FY21 – The Market Herald

Biotech company CSL (CSL) reported after-tax net profit of USD 1.8 billion (approximately $ A3 billion) for S1 FY21

This figure represents an increase of 45% compared to USD 1 2 billion (approximately $ 1 A5 billion) made in the previous corresponding period (pcp)

“I am pleased to report a solid result in a time of unprecedented uncertainty during the most serious pandemic of our lives,” said CEO and General Manager Paul Perreault

“Our people and our business model have both demonstrated extraordinary agility and resilience in this most challenging environment,” he added.

CSL Behring, a subsidiary of CSL, saw its total revenue increase by 9% to reach USD 43 billion (approx. AUD 5 billion)

Immunoglobulin (Ig) sales increased 7% to US $ 2.1 billion (around AU $ 27 billion), mainly led by its Ig product, HIZENTRA

HIZENTRA sales increased sharply, up 19% due to the adoption of the treatment for chronic inflammatory demyelinating polyneuropathy – a chronic disease that targets the nerves of the body

Unfortunately, its other Ig product, PRIVIGEN, saw a modest 1% increase, tempered by COVID-19 restrictions

Its other products, HAEGARDA and KCENTRA, saw respective increases of 16% and 6%

CSL Behring is progressing well with its COVID-19 vaccine, with first doses scheduled for Q2 2021

CSL’s other subsidiary, Seqirus, saw its total revenues increase by 38% to $ 1.4 billion (around $ A8 billion)

This growth is mainly due to an increase in sales of seasonal influenza, which increased by 44%

Since the start of the pandemic, CSL has pursued research and development projects (R&D) where its capacities and expertise can be used

During the semester, the company reached an agreement with the Australian government to manufacture 30 million doses of the AstraZeneca COVID-19 vaccine

Unfortunately, CSL decided not to move forward with vaccine made in Australia with University of Queensland after false positives for HIV were found

Despite the harsh environment, CSL is well positioned to ensure growth and ultimately a COVID-19 vaccine

He expects his after-tax net profit for FY21 to be between US $ 2.1 billion (around AU $ 27 billion) and US $ 2 billion (around AU $ 28 billion)

“COVID-19, however, will continue to impact CSL Our plasma collections have been affected during the pandemic,” he said

“Our staff continue to work extremely hard to undertake work on the COVID-19 vaccine without compromising the production of our essential life-saving therapies,” he concluded

CSL is up 244% in the market and shares are trading at $ 288.04 at 12:46 p.m. AEDT

CSL ASX

Ebene News – AU – CSL (ASX: CSL) delivers AU $ 2 Profit 3B in S1 FY21 – The Market Herald

Source: https://themarketherald.com.au/csl-asxcsl-delivers-a2-3b-profit-in-h1-fy21-2021-02-18/