With strong demand across CSL Behring's product portfolio, sales reached $2.6 billion as the business built on the foundation of previous years and ongoing operational efficiencies. CSL Behring continued to exceed financial expectations recording a 48% increase in earnings before interest and tax over the previous year.

The ongoing demand for intravenous immunoglobulin and growth in sales of plasma derived Factor VIII/vWF products were key components of the increase in sales revenue. Vivaglobin® sales grew strongly with a four-fold increase in patients on treatment in the US supporting future growth. Critical care products including albumin, Beriplex® (prothrombin complex) and Haemocomplettan® (fibrinogen) made strong gains in price and volume.

During the year, we added Cytogam® to our portfolio of specific immunoglobulins. Cytogam® was purchased from Medimmune, Inc. and is indicated for protection from CMV infections in patients undergoing solid organ transplants. We exceeded our part-year sales targets and expect further growth opportunities in the future. Despite flat sales of Helixate® (recombinant Factor VIII) as a result of lost business in a large United Kingdom tender early in the year, a highlight was the extension of CSL Behring's distribution agreement for Helixate® with Bayer HealthCare LLC until December 2017. The new agreement which included the settlement of outstanding litigation between the parties includes significant volume growth.

All regions contributed to growth except Japan which did well to maintain sales in eroding market conditions due to Japanese self-sufficiency initiatives.

To meet expected future global demand for immunoglobulin, we increased ZLB Plasma's collections in 2006-07 which together with plasma purchased from US and European Blood Banks will expand future growth prospects.

Key projects within our research and development portfolio have made good progress this year. Our third generation liquid immunoglobulin for intravenous administration, Privigen™ has been approved by the US FDA and is pending in European and other regulatory agencies. We are planning to launch Privigen™ in all these markets in calendar year 2008. A companion product, a second generation liquid immunoglobulin for subcutaneous administration made by the same high-yielding chromatographic separation process, is undergoing clinical trials with the aim of submitting the Biologics License Application (BLA) to the US FDA in the second half of 2008. Our market leading treatment for von Willebrand disease, Humate® was approved by the US FDA for use in patients undergoing surgery and we have submitted Beriplex® (prothrombin complex) to the European authorities for registration for treatment of coagulation deficiencies associated with Warfarin therapy.

CSL Behring's ongoing commitment to operational efficiency once again contributed to improved product margins. Built on our centre of excellence model, improved manufacturing, planning, and logistics systems supported by additional manufacturing volumes and higher prices realised increases in operating margins.

Good progress was made at our Bern facility with the physical completion of our large-scale chromatographic purification plant for Privigen™ manufacture. This plant will be commissioned and validated with expanded capacity in calendar year 2009.

CSL Behring continues to support several agencies seeking to improve health care in underprivileged societies. Two examples are the World Federation of Hemophilia (WFH) and the International Patient Organization for Primary Immune deficiencies (IPOPI). The WFH has a long term commitment to improve care for patients with haemophilia and the IPOPI recently lead the successful reinstatement of immunoglobulin on the World Health Organisation list of essential medicines.

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