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Highlights
- CSL has completed the final stage of the acquisition of Vifor Pharma with all necessary regulatory clearances secured.
- Upon the transaction completion, CSL expects to hold over 97% of Vifor shares.
- The acquisition of Vifor is expected to offer a clear path to sustainable growth in the long run, along with near-term value.
ASX-listed healthcare giant CSL Limited (ASX:CSL) has shared an exciting update concerning the completion of acquisition of Vifor Pharma Ltd. (Vifor).
CSL has fulfilled all conditions for the acquisition as the company secured all necessary regulatory clearances for the transaction. The company is likely to wrap up the acquisition by 9 August 2022.
CSL is a global leader in the biotechnology space. Founded more than a century ago, the company is driven by the promise to save lives using the latest technologies. Over the years, the ASX-listed healthcare provider has emerged as one of the biggest and fastest-growing biotechnology firms.
A clear path to long-term sustainable growth
Headquartered in Switzerland, the global speciality pharmaceutical company Vifor has an impressive portfolio focused in the areas of renal disease and iron deficiency.
Upon completion of the acquisition, CSL expects to hold over 97% of Vifor shares. Further, the company will cancel the remaining publicly held Vifor shares in line with the Swiss takeover rules and apply for the delisting of Vifor shares on the Swiss Exchange (SIX).
CSL’s CEO and Managing Director, Mr Paul Perreault, highlighted that CSL expects a clear path to sustainable growth in the long run and near-term value with this transaction. Moreover, the development will boost the leadership capabilities of the company besides adding a complementary and high-value portfolio of products.
With this acquisition, CSL expects to have a market leading position in the nephrology and iron deficiency space.
Vifor biopharma executive to lead the business
CSL has appointed Mr Hervé Gisserot as General Manager to lead the Vifor business upon its acquisition.
Mr Gisserot, a seasoned biopharma executive, joined Vifor in January 2022 and is currently serving as Chief Commercial Officer of the firm. After the acquisition, he will report to CSL’s Chief Operating Officer, Dr Paul McKenzie.
CSL expects to release its full-year results on 17 August 2022.
At the time of writing this article, shares of CSL were trading at AU$296.260 on 2 August 2022.
