bullish
CSL Ltd (CSL AU): FY23 Guidance Cut Drags Near-Term Prospect; Long-Term Growth Drivers Still Intact
378 Views15 Jun 2023 18:12
SUMMARY
- CSL Ltd (CSL AU) has reduced its profit projection for FY23 due to higher-than-anticipated adverse impact from Fx. The company now expects a Fx headwind of $230–250M from $175M earlier.
- After considering modest recovery of CSL Behring gross margin and generic competition for Ferinject in Europe, CSL expects FY24 NPATA to grow 13–18% to $2.9–3.0B at constant currency.
- All eyes are now on the U.S. launch of the one-time gene therapy Hemgenix for Hemophilia B. CSL expects the first patient to take Hemgenix within the next few weeks.
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Tina Banerjee
Global Healthcare Analyst
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