News & Trends - Biotechnology

CSL secures regulatory clearance to settle biggest acquisition to date

Health Industry Hub | August 3, 2022 |
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Biotech News: CSL has received all necessary regulatory clearances to finalise its largest acquisition, initially announced on 14 December 2021.

All conditions for the acquisition of Vifor Pharma have now 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).

CSL’s Chief Executive Officer and Managing Director, 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.”

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.”

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