Demand for medicines drives success

BIOTECH titan CSL has reported an 11 per cent jump in first-half net profit and upgraded its full-year profit forecast.

The blood products and vaccines manufacturer now expects a profit of at least $3.1 billion for the year to June, an increase from last financial year of up to 13 per cent.

Growth in immunoglobulin products, haemophilia therapies and influenza vaccines were key contributors to the increase, the Melbourne-based company said.

“Our results reflect the focused execution of our strategy, robust demand for our differentiated medicines and a deep, inherent passion for meeting the evolving needs of our patients,” said chief executive Paul Perreault.

He said coronavirus was mostly outside CSL’s area of expertise but the company was lending its technology to the University of Queensland to help find a vaccine.