CSL Close to Finally Taking Control of Vifor
Australian biopharma CSL said this week it has received all the regulatory clearance required to take over Switzerland’s Vifor. The acquisition announced in December 2021 temporarily stalled in May 2022.
CSL said it now expects to complete the $11.7 billion transaction on Aug. 9, when it will hold more than 97% of Vifor’s capital. The acquisition, the Melbourne-based company said, will offer a clear path to sustainable growth in the long term, along with near-term value.
In late March, CSL said it was postponing the closing for four months to allow time for all antitrust agencies to approve. In July, it extended the offer again until September. Terms remained unchanged, however.
Last December, CSL’s CEO, Paul Perreault, said the deal should be accretive to earnings in the first year of ownership. He added that it will further advance his company’s 2023 strategy to create high value growth, be cash generative and sustainable while expanding the leadership positions of its two business units Behring and Sequeris.
With the takeover, CSL will gain access to Vifor’s kidney disease and iron efficiency portfolio, though reports suggest that some of the parameters could be slightly changed against 2021 expectations.
The US Food and Drug Administration (FDA) earlier this year turned thumbs down on Akebia Therapeutics’ treatment for chronic kidney disease, vadadustat, which Vifor has licensed for its dialysis unit. However, the drug is currently under review by the European Medicines Agency for the same application and also by regulatory authorities in Switzerland and the UK.
As general manager for its new business, CSL has chosen former GSK executive Hervé Gisserot, who joined Vifor in Januar and currently serves as chief commercial officer. At closing, Vifor’s current CEO, Abbas Hussain, will leave the company.
Author: Dede Williams, Freelance Journalist
