Finalisation of Vifor Pharma acquisition

Written by: Editor
Published on: 2 Aug 2022

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  • All regulatory clearances received to close the acquisition of Vifor Pharma AG, effective midnight tonight US time
  • Completion of the acquisition is anticipated to take place by 9 August 2022
  • Seasoned biopharma executive, Hervé Gisserot, appointed to lead the business as General Manager upon completion of the acquisition
  • CSL’s financial guidance for the Vifor business to follow CSL’s full year results, with a dedicated market briefing in October

CSL Limited (ASX: CSL; USOTC:CSLLY) is pleased to announce it has now received all necessary regulatory clearances for the acquisition of Vifor Pharma AG (Vifor), announced on 14 December 2021, effective from midnight US Eastern Standard Time (2.00pm Australian Eastern Standard Time today).

As a result, all conditions for the acquisition have been fulfilled and completion of the acquisition will occur by 9 August 2022.

CSL anticipates that it will hold more than 97% of Vifor shares upon completion and will proceed with cancellation of the remaining publicly held Vifor shares, in accordance with Swiss takeover rules. CSL will also apply for the delisting of Vifor shares on the Swiss Exchange (SIX).

Planning for the integration of Vifor is well advanced.

CSL’s Chief Executive Officer and Managing Director, Mr Paul Perreault said, “We are excited to complete the acquisition of Vifor Pharma - enhancing CSL’s well established patient focus and ability to protect the health of those facing a range of rare and serious medical conditions. I would like to thank our employees, strategic partners and shareholders who have shown their unwavering support throughout the acquisition process.”

“Joining CSL, the Vifor business adds near-term value along with a clear path to long-term sustainable growth. It also adds an outstanding management team, along with a high-value and complementary portfolio of products and market leading position in the nephrology and iron deficiency spaces.

Appointment of General Manager

CSL also advises Mr Hervé Gisserot, a demonstrated global leader with diverse biopharma experience, has been appointed to lead the Vifor business as General Manager upon completion of the acquisition. He will report to CSL’s Chief Operating Officer, Dr Paul McKenzie.

Mr Gisserot is currently the Chief Commercial Officer for Vifor Pharma, joining in January 2022 following 13 years at GlaxoSmithKline where he served in multiple Senior Vice President (SVP) roles, including most recently as SVP & Head of Pharmaceuticals & Vaccines for Greater China & Intercontinental. Prior to that, he held various leadership roles at Sanofi-Aventis, Aventis, Rhone-Poulenc Rorer and Fournier Group.

Dr McKenzie said “I’m pleased to welcome Hervé to the role of General Manager. With his proven track record of leading high-performing organisations, executing successful product launches across a number of geographies around the world, and delivering profitable growth, we have every confidence in his leadership.”

Vifor – Financial guidance and market briefing

As completion of the acquisition of Vifor will occur shortly before CSL’s full year results announcement on 17 August 2022, CSL advises it will not be in a position to provide financial guidance relating to Vifor for fiscal 2023.

Financial guidance for CSL will be provided as usual and will be updated to include Vifor at the first practicable opportunity.

CSL intends to hold a dedicated Vifor market briefing on Monday 17 October 10am AEST. Investors will have an opportunity to hear from Vifor’s management team as well as CSL executives as they discuss Vifor’s growth strategy, insights into its product portfolio and financials.