Insights

What’s going on with the CSL share price on Tuesday?

The ASX biotech giant is moving along with its Vifor takeover…
The post What’s going on with the CSL share price on Tuesday? appeared first on The Motley Fool Australia. –

The CSL Ltd (ASX: CSL) share price is edging lower in early trading amid the company’s latest update on its Vifor acquisition.

At the time of writing, shares in the global biotech are down slightly by 0.27% to $294.10.

Meantime, the S&P/ASX 200 Index (ASX: XJO) is also hovering 0.36% lower to 6,967.6 points.

What did CSL announce to the ASX?

In its announcement, CSL advised it has received all regulatory clearances to finalise the acquisition of Vifor Pharma, effective today.

This comes after the lengthy delay earlier this year regarding the foreign direct investment and regulatory filings.

Nonetheless, with all conditions now met, the takeover of the global specialty pharmaceuticals company will take place by 9 August.

CSL expects to hold more than 97% of Vifor shares upon completion and will seek to cancel the remaining 3%. This will be in accordance with Swiss takeover rules, with CSL also applying for the delisting of these shares on the Swiss Exchange (SIX).

CSL CEO and managing director Paul Perreault commented:

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.

Perreault went on to add:

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.

Investors may want to keep an eye out on 17 October as CSL will hold a dedicated Vifor market briefing. Management will discuss Vifor’s growth strategy and insights into its product portfolio and financials.

CSL appoints general manager for Vifor

In other news, CSL has appointed Hervé Gisserot as general manager for the Vifor business once the acquisition is finalised.

Reporting directly to Perreault, the appointment of Gisserot should be a smooth transition given his credentials and current position.

Since January 2022, Gisserot has been the chief commercial officer for Vifor Pharma.

Previously, he spent 13 years at GlaxoSmithKline fulfilling multiple senior vice president (SVP) titles. This includes the most recent, SVP & Head of Pharmaceuticals & Vaccines for Greater China & Intercontinental.

CSL share price snapshot

Despite the recent market volatility, the CSL share price has outperformed the market to surge almost 10% in a month.

For context, the benchmark ASX 200 index has lifted around 7% over the same time frame.

CSL is the third largest company on the ASX with a market capitalisation of roughly $142 billion.

The post What’s going on with the CSL share price on Tuesday? appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

5 things to do during ASX results season
5 things to watch on the ASX 200 on Tuesday
Here are the top 10 ASX 200 shares today
Leading brokers name 3 ASX shares to buy today
The Endeavour share price is trading near all-time highs. Is it too late to buy?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info