Some businesses might be willing to curry favour with US President Donald Trump's call to "make America great again" by forcing more companies to create jobs in the US, but CSL has got a tin ear by comparison.
"I don't trade on innuendo," CSL chief executive Paul Perreault, a US citizen, said on Wednesday. "Our strategy is set."
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"We're watching it closely. The US is a big part of the business – but it is not the only part."
President Trump has threatened to impose taxes on imports, which has prompted some global companies to switch to producing more product there, rather than supplying from other countries.
"It is too early to make the call," Mr Perreault said. "It is not easy just to move these plants. These are huge facilities. You don't want to shut down Berne [Switzerland] just for a tax issue."
He was speaking after disclosing a net profit of $US805.5 million for the December half, up from $US718.8 million, on revenue of $US3.5 billion up from $US3 billion a year earlier. The interim dividend was raised to US64c a share from US58c as earnings a share rose to $US1.76 from $US1.55.
CSL profited from the problems of competitors in meeting demand for immunoglobulin products in the US market in particular, where the Australian company has been able to build market share with growth running well ahead of the broader market for several years now.
And the hope is that the group will be able to retain part of the expanded market share.
"It was a one-off," Mr Perreault said. "We will keep some, we will lose some, but some will stick with us."
He was careful to point out that growth in other areas such as specialty products, as well as declining losses at its influenza vaccine business, also contributed to the profit rise.
Even with the improvement at the group's influenza business, CSL is still only expected to reach break even next financial year. In 2014, CSL paid Novatis $US275 million for the business, but it is yet to stop making transitional payments to the Swiss-based group since concluding the deal.
"This is a very competitive space," Mr Perreault told analysts of the influenza market. "The high dose product of a competitor is something we are battling against," while also pointing out CSL needs a "step change in efficiency" at the Holly Springs plant of this unit in the US.
CSL also disclosed that China accounts for a large, and growing, chunk of revenues, with sales there approaching $US600 million a year just for albumin. At present, much of this product is supplied out of Europe, although an expansion in capacity is under way at the Broadmeadows plant in Melbourne.
In the half albumin sales rose a strong 35 per cent, with the group keen to expand its role in supplying the Chinese market, although it is hampered by government regulations.