If the 2013 financial year was challenging, CSL chief executive Paul Perreault says 2014 will be even worse. The pharmaceutical company reported a 19 per cent increase in net profit to $US1.21 billion in 2013. CSL says 2014 net income growth will more than halve to 10 per cent.
Perreault may be just dampening expectations. But it points to nervousness about the health of the US economy and the uncertain regulatory environment facing many companies in and outside the pharmaceutical sector.