By Mike Cherney

SYDNEY--Australia-based biopharmaceutical company CSL Ltd. said its net profit fell 3% in the six months through December, reflecting challenges in plasma collections during the pandemic.

CSL said reported half-year net profit was US$1.76 billion, down 3%. Total revenue was US$6.04 billion, up 5%. On a constant currency basis, CSL said underlying net profit was US$1.72 billion, down 5%, and total revenue was US$5.99 billion, up 4.4%.

CSL declared an interim dividend of US$1.04 per share, the same as the prior corresponding period.

CSL said the result was in line with expectations.

The company added that its core franchise, the immunoglobulin portfolio, was impacted by industrywide constraints on plasma collections during Covid-19. Immunoglobulin products are manufactured from plasma, and travel restrictions and lockdowns made it more difficult for people to give plasma at CSL's network of collection centers. CSL said immunoglobulin sales declined 9% in the half.

Looking ahead, CSL said it expected net profit for the full 2022 fiscal year, which ends in June, to be US$2.15 billion to US$2.25 billion. It said that includes US$90 million-US$110 million in transaction costs related to its agreement to acquire Vifor Pharma Ltd.

Chief Executive Paul Perreault said he's optimistic about the future.

"Following the initiatives we have implemented in our plasma collections network, collections have been improving and are expected to underpin stronger sales in our core plasma therapies," he said. "I'm very encouraged by seeing increased social mobility and the beginnings of a return to a more normalized environment."


Write to Mike Cherney at mike.cherney@wsj.com


(END) Dow Jones Newswires

02-15-22 1651ET