The CSL Limited (ASX: CSL) share price has pushed almost 6% ahead following the release of the company's full-year results.
This comes after the global biotech company recorded another robust performance despite navigating through challenging conditions brought on by the Covid-19 pandemic.
At Monday's market close, the CSL share price finished the day slightly down 0.24% to $310.30. It's worth noting the company's share price is just 3.2% short of its 52-week high achieved in November 2020.
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What did CSL report?
A little more than a week ago, CSL provided investors with a detailed update on its business operations. The CSL share price initially dipped on the announcement but has since recovered to push higher.
The company noted that its CSL Behring's portfolio faced headwinds, while its Seqirus business recorded strong tailwinds in FY21. The latter deals in seasonal influenza vaccines.
Under the CSL Behring banner, sales of its leading subcutaneous immunoglobulin product, Hizentra, grew 15%. In addition, sales of hereditary angioedema product, Haegarda, lifted 15%. This contributed to overall revenue of US$8.8 billion for the CSL Behring portfolio, up 6% on FY20.
CSL's Seqirus business experienced a strong surge in seasonal influenza vaccines, up 41%. A record volume of around 130 million doses was distributed around the world. As a whole, Seqirus revenue jumped to US$1.7 billion, up 30% from the prior corresponding period.
In other news possibly affecting the CSL share price, investors were updated on the company's plasma collection issues.
The company noted that federal government stimulus packages from early 2021 had driven down the number of donors per week. This momentarily affected plasma levels before soaring again on the back of vaccine momentum, further marketing initiatives, and a "stimulus burn-off".
As such, plasma collection numbers are down around 20% compared to FY20's levels.
CSL also opened 25 new facilities to attract lapsed and new donors through its doors. In FY22, the company plans to open another 40 centres, expanding its presence, mostly across the United States.
CSL CEO Paul Perreault commented:
Plasma collections are expected to continue improving following multiple initiatives we have implemented. Together with the global rollout of COVID-19 vaccines I'm optimistic of a global recovery with greater social mobility and more normalised conditions.
CSL share price summary
Over the course of the past 12 months, CSL shares have taken investors on a rollercoaster ride, but are up 8%. It appears investors believe the worst is over for the company, with vaccination rates climbing and countries eyeing a post-COVID-19 world.
In early trade today, the CSL share price is up 0.53% to $311.94.
On valuation grounds, CSL is the second-largest company on the ASX with a market capitalisation of roughly $141.22 billion.
