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CSL’s Net Income Exceeds Estimates on Rival’s Recall

CSL Ltd., the Southern Hemisphere’s biggest drugmaker, reported first-half profit that beat analyst estimates after a competitor’s product recall boosted sales.

Net income fell 19 percent to A$500.2 million ($500 million), or 91.23 Australian cents a share, in the six months ended Dec. 31, from A$617.4 million, or A$1.06, a year earlier, CSL said today. Analysts projected profit of A$493 million, based on the average of five estimates compiled by Bloomberg.