CSL enjoys record high after major shot in arm

CSL shares have soared to a record high after the blood products and vaccines supplier posted a 29 per cent jump in full-year profit to $US1.73 billion ($2.39 billion).

Sales revenue for the year to June 30 also rose, up 14.7 per cent to $US7.59 billion.

Investors responded positively to the news sending the share price up 6.4 per to $12.89 to close at $214.58.

The results were slightly ahead of the guidance provided by the company in May. Its vaccines firm, Seqirus, delivered its first profit three years after it was formed, following a severe flu season in the United States.

Influenza vaccine sales grew 53 per cent at current currency – which removes the impact of foreign exchange fluctuations – as the company quadrupled production of the vaccine doses at its North Carolina facility.

Sales for the FLUAD flu vaccine – for people over the age of 65 – grew by 142 per cent.

“You sell most of the product before you understand what the (flu) season’s going to be,” managing director Paul Perreault said yesterday.

CSL’s speciality products portfolio, which includes drugs that treat conditions including emphysema, haemophilia and angioedema, was a “star performer”, with sales growing by 24 per cent.

Mr Perreault called Haegarda, a new drug launched this year to treat angioedema – a hereditary condition that can cause swelling of the face, abdomen and limbs – a “game changer”.

“Haegarda was the most successful product chronic drug launch in the US in the past five years,” he said.

The company expects 2018/19 net profit in constant currency terms to be in the range of $US1.88 billion to $US1.95 billion, an increase of 10 to 14 per cent from last year.