Why CSL’s (ASX:CSL) shares are in news?

November 01, 2022 11:57 AM AEDT | By Tamnna

Image source: © Pvl | Megapixl.com

Vifor investor briefing details

The Australian pharmaceuticals company published an investor briefing for its newest addition to the group, CSL Vifor. As per the ASX filing, the company expected more than 10% growth in the medium term by utilising its three key drivers of growth:

Diseases for Iron Deficiency: HF approval for Injectafer® in the US is expected to help increase sales from FY23, while maximisation of Ferinject® will create opportunities in Europe and other places.
Dialysis: The growth would depend on commercial uptake for Korsuva®/Kapruvia® in Europe and the US, along with an increased US share of ESA (Erythropoiesis-Stimulating Agent).
Nephrology: New patients and better access in the US would help the growth of Veltassa® along with a solid launch of Tavneos® and Sparsentan.

During this investor briefing, the company also shared the new outlook for FY23. CSL was looking forward to a revenue growth of 28-30% at constant currency with net profit after tax before amortisation guidance of US$2.7 to US$2.8 billion (at constant currency).

What else has been happening at CSL?

CSL released its annual general meeting (AGM) results on ASX on 12 October 2022, showing that the company had earned US$10.5 billion in revenue and US$2.25 billion in profit, which is its second-highest profit to date.

CSL kept its dividend at AU$3.18 per share.

During FY22, the company announced the acquisition of Vifor Pharma, In August, CSL formally welcomed Vifor Pharma to the group as CSL Vifor.

In addition, CSL updated its sustainability strategy by announcing goals for lowering carbon emissions in 2022.

According to the AGM report, the company had a 3% growth in revenue in constant currency, and its net profit after taxes grew to AU$2.25 billion.

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