CSL restarts production of influenza vaccine for Australia
CSL has announced that it is restarting production of influenza vaccine for the Australian market in response to higher than expected demand this season.
Back in January, here we commented on CSL’s exposure to the severe flu season in America, which resulted in mass shortages of vaccines. It turns out that the flu season has started early in the Southern Hemisphere as well.
The General Manager of bioCSL, Dr John Anderson, has stated that demand for influenza vaccine had increased significantly in the first two weeks of April in both the public and private markets.
“All our customers are reporting a much earlier and much higher uptake of influenza vaccine this year, compared to the last few years,” CSL said.
As a global leader in the field, CSL has the ability to ramp up production if required – indeed, CSL holds the contract to supply the US government with vaccines in the event of a global flu pandemic. Even so, the flu season must be particularly severe for the company to use such strong language:
CSL noted, “Restarting production of Southern Hemisphere influenza vaccine is a significant undertaking, but as Australia’s only on-shore manufacturer we are committed to responding to local needs. Should the extraordinarily high demand for influenza vaccine persist, we are very pleased to be able to support the Government in ensuring additional doses are available for age-appropriate at-risk groups.”
Back in November 2012, CSL announced a profit upgrade, in which it expected net profit in FY13 to be 20% higher (in constant currency terms) than in FY12. Given the significant events that have occurred since this date, we believe that the final profit figures will be nothing to sneeze at.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
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