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CSL Backs FY19 Outlook, Says On Track To Reach Long Range Goals - Quick Facts

Shares of CSL Ltd. (CSL.AX,CMXHF.PK) were gaining around 2 percent after the Australian biotech company on Wednesday confirmed its fiscal 2019 outlook of net profit after tax in the range of approximately $2.05 billion to $2.11 billion at constant currency.

The outlook represents a growth of around 7 percent to 10 percent after absorbing the one-off financial headwind of the China Good Supply Practice for Pharmaceutical Products or GSP.

Revenue is expected to grow by around 6 percent at constant currency or around 10 percent after adjusting for the GSP.

The company further said it expects to see a slight increase in margin arising from product mix shift, and strong demand for plasma and recombinant therapies to continue.

Looking forward, the company plans to launch Flucelvax in the EU in the 2019/20 northern hemisphere season and have submitted a dossier to the TGA in Australia.

"We are well on track to reach the long range goals that we set for this business for 2020," the company said.

In Australia, CSL shares were trading at A$253, up 1.86 percent.

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