CSL clears regulatory hurdles to settle $16.4b buyout of Vifor

Blood product giant CSL says it has received all regulatory clearances needed to close its $US11.7 billion ($16.4b) buyout of Swiss pharmaceuticals maker Vifor Pharma by August 9.

The acquisition — which represents CSL’s biggest purchase to-date — was first announced in December last year when the biotech revealed its offer of $US179.25 per Vifor share.

In a statement to the ASX, CSL said it would have all clearances in place from 12pm AWST on Tuesday. It expects to hold more than 97 per cent of Vifor shares upon completion of the acquisition and will apply for a delisting of the drugmaker’s shares on the Swiss Exchange.

CSL has said the buyout will complement its existing therapeutic focus in areas such as hematology and thrombosis, cardiovascular-metabolic and transplant.

Vifor describes itself as a “global leader in iron deficiency” and anaemia therapies, with the company’s history dating back to 1872.

CSL chief executive Paul Perrault said the biotech was excited to complete the Vifor acquisition, saying it would enhance CSL’s “well established patient focus and ability to protect the health of those facing a range of rare and serious medical conditions”.

“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,” he said.

Former GlaxoSmithKline executive Hervé Gisserot has been appointed to lead the Vifor business as general manager upon completion of the acquisition.

CSL said it would not be in a position to provide financial guidance relating to Vifor for fiscal 2023 when releases its full-year results to on August 17. However, it expects to hold a briefing on October 17.