CSL announced overnight the US Food and Drug Administration has approved a 50 mL vial size for Hizentra, available in the US from October. Hizentra essentially has a monopoly in the subcutaneous immunoglobulin market in the US and this positions them well to continue dominating the sector.
The benefits of a larger vial size include administration efficiency and simplifying care of patients who require infrequent large doses of the drug. Hizentra sales grew 27 per cent in the last reporting period, helping drive CSL immunoglobulin sales up 9 per cent for the full year.
CSL reached their all-time high of $69.00 on Tuesday and could push past this today.
Dart Energy comes out of a trading halt this morning, with expectations it will announce a capital raising as they face a capital crunch.
Having to tap shareholders after looking to sell existing assets does not look good for Dart and should not be well received by shareholders.
Dart’s core operations have also recently come under pressure in Scotland by environmental groups angry about the potential extraction of coal seam gas in the region.
Shareholders have seen Dart shares plummet 48 per cent over the past twelve months.