Blood products giant CSL has received all regulatory clearances for the third largest outbound-deal in Australian M&A history.
Blood products giant CSL has received all regulatory clearances for its major $US11.7 billion acquisition of Switzerland’s Vifor Pharma, paving the way for the ASX-listed biotech to enter into new territory with iron deficiency and kidney products.
Chief executive Paul Perreault said in a statement to the ASX the addition of Vifor to the company’s stable would enhance its ability to protect the health of people “facing a range of rare and serious medical conditions”. Vifor’s key products include Ferinject for iron deficiency, which is one of the largest revenue earners. The Swiss biotech also has four late-stage drugs in the pipeline which are due to launch this year.
In June RBC Capital Markets analyst Craig Wong-Pan increased his 12-month price target for CSL to $308 per share, up from $296, basing the move on foot traffic data suggesting that CSL plasma collection volumes would increase.The business is highly reliant on people donating plasma in the US to make its immunoglobulin-based therapies.
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