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CSL is optimistic about its new iron focus as it lifts the lid on its Vifor purchase.

CSL boss Paul Perreault told investors the biotech giant is expanding its focus on treating patients with iron deficiency, heart failure and kidney disease with its $18.8 billion acquisition of Swiss company Vifor. said it could see decades of growth.

Perreault defended its acquisition of the business by CSL on Monday, with management outlining the strategic and financial implications that would result from the acquisition of the business now known as CSL Vifor.

Analysts’ initial reaction to the Vifor acquisition was mixed, wary of the huge price tag paid.

“Did we have to make a deal? Probably not, but this is a great opportunity,” he said. “We talked about the fact that finding the perfect business is hard, but Vifor thinks he’s a perfect fit for CSL.”

Investors and analysts await more details about how CSL Vifor, which specializes in treating dialysis, iron deficiency and kidney disease, fits into the broader CSL business. The $11.7 billion ($18.8 billion) price tag, when announced late last year, was for CSL’s plasma products and vaccines.

On Monday, CSL said it expects Vifor to contribute to an after-tax net profit of $300 million to $330 million in 2023. $2.4 million and his $2.5 billion.

CSL shares fell 2.8% at the opening of trading, but fell 1.5% in afternoon trading to return to $276.27.

CSL Vifor’s product presentation confirmed that the biotechnology aims to increase revenues by 10% in the kidney, iron and dialysis areas over the medium term.

CSL Chief Executive Officer Paul Perreault said:

CSL Chief Executive Officer Paul Perreault said: credit:Jason South

General Manager of CSL Vifor Hervé Gisserot said he hopes to expand the use of Ferinject, the flagship iron deficiency product to help treat chronic heart failure patients.

CSL is optimistic about its new iron focus as it lifts the lid on its Vifor purchase.

Source link CSL is optimistic about its new iron focus as it lifts the lid on its Vifor purchase.

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