Australia's CSL H1 net profit jumps 46 pct on Behring plasma ops |
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Published
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Wed, 21 Feb 2007 00:24
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SYDNEY (XFN-ASIA) - Blood plasma group CSL Ltd said its net profit for the six months to December rose 46 pct from a year earlier to 257.3 mln aud, reflecting strong growth in its Behring global plasma therapeutics business which experienced favorable trading conditions and rising margins.Revenue for the fiscal first half increased 8.9 pct to 1.514 bln aud compared to the previous corresponding period.CSL chief executive Brian McNamee said sales of his firm's cervical cancer drug, GARDASIL, are now producing royalty receipts from US licensee Merck & Co Inc and momentum appears to be building as the product is launched globally.He said other highlights in the half year ended December include an extension of a supply contract with Bayer AG until 2017, and intensifying the research focus on recombinant antibodies following the 108 mn aud acquisition of research and development company Zenyth Therapeutics Ltd in July 2006.McNamee said his company continues to expect favorable market conditions for the plasma therapies business and growing contribution from receipts associated with the international sales of GARDASIL.As a result, the company lifted its net profit guidance for the fiscal year ending in June to 500-520 mlnaud, with the key drivers including GARDASIL sales in the US and Australia as well as further strongperformance of the Behring unit.CSL announced an interim dividend payable to shareholders of 0.48 aud per share, well above the0.28 aud paid for the previous corresponding period.(1 usd = 1.27 aud)paul.daniel@xfn.compd/mas
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Pharmaceuticals and chemicals highlights to 15:40 GMT 