BPO TV

Leading global biotech company CSL Limited (ASX:CSL) has released FY22 results today.

For the year financially, CSL reported profit coming down just 6% at $2.255 billion, which was at the top end of guidance but short of analysts’ expectations, but revenue rose 3%. CSL has set guidance for NPAT in FY23 excluding CSL Vifor to return growth and be in the range of approximately $2.4 to $2.5 billion. CSL also significantly boosted investment into Research and Development in FY22.

CSL’s influenza business CSL Seqirus reported seasonal flu vaccines sales were up 16% with sales in the US topping $1 billion for the first time, and a record volume of around $135 million doses distributed over the financial year.

On the performance front, CSL reported significant growth in plasma collection volumes to underpin future sales growth boosted by the current higher cost of plasma, which is also expected to prevail in FY23. CSL also opened 27 new plasma collection centres and commenced the rollout of a new plasmapheresis platform to be completed in FY23.

On the acquisition front, CSL completed its acquisition of world leading pharmaceutical company Vifor Pharma for $16 billion to expand CSL’s access to Vifor Pharma’s iron deficiency, dialysis and nephrology and rare products divisions.

In the first hour of trade, investors have responded negatively to the biotech leader’s results with CSL shares currently trading almost 3% lower.