CSL shares hit new highs on FY19 profit - (This is Money via NewsPoints Desk)

  • CSL has boosted its full-year profit by 11% to $1.9 billion, with better disease diagnosis helping to drive demand worldwide for its antibody replacement drugs, as reported by This is Money.

  • Sales in the 12 months to June 30 jumped 7.9% to $8.5 billion, with the drugmaker's immunoglobulin portfolio gaining 16% on a constant currency basis to $3.54 million.

  • CEO Paul Perreault noted that "Privigen and Hizentra were exceptionally strong, and driving this demand has been its increased usage for chronic conditions and increased disease awareness and diagnosis."

  • In addition, growth in the Seqirus vaccines unit climbed 12% to almost $1.2 billion, significantly bolstering CSL's overall earnings, with Perreault saying it was delivering on strategy.

  • "Seqirus is expected to continue to perform well and deliver in line with prior guidance, benefiting from product differentiation and process improvement," he remarked.

  • Meanwhile, global sales of albumin were up 15% compared with the previous year, following a strong second-half performance in China, the news source said.

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