“CSL competitor Grifols reported better than expected in its third quarter results last week, driven by enhanced product mix and strength in the CSL-comp Biopharma division (85% of profit),” Raymond said.

“Specifically, the Biopharma division posted revenues up 12.1% cc to 1,533 million euro (cons 1,512 million euro) across key geographies, underpinned via “strong demand for key proteins”, particularly immunoglobins (Ig +16.6% cc) and albumin (+11.7% cc) in the US and international markets.

“Plasma collections continue to be managed efficiently, with cost per litre (CPL) declining “modestly” further extending the significant drop since peak cost in July 2022, with the outlook for plasma costs remaining positive on continuous improvement initiatives,” Raymond said.

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