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  • News Archive
    year 2004 following the purchase and ongoing integration of Aventis Behring This follows on from CSL s update to the market in May this year when the company said it was unable to provide an accurate earnings forecast for 2004 CSL s reported net profit after tax for the twelve months to June 2004 is expected to be between 210 to 220 million the profit on sale of the Animal Health business accounting for 75m of this amount Dr McNamee said Since acquiring Aventis Behring on 31 March this year we ve been busy reviewing and consolidating our international operations including our 20 new subsidiaries consistent with our integration plan for the businesses The timing of the closure of the acquisition as well as the complex process of integrating Aventis Behring with ZLB has made it difficult to forecast the Group s financials for 2004 with any accuracy However given we now have operational control and three months trading results from the newly formed entity ZLB Behring we are in a position to provide the market with guidance for fiscal 2004 We are also able to confirm that the total discount on acquisition of Aventis Behring allocated to inventory is

    Original URL path: http://www.csl.com.au/s1/cs/auhq/1196562649899/news/1199941069544/prdetail.htm (2014-01-05)
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    Renshaw had been appointed a Director and would join the CSL Board effective immediately An Australian Mr Renshaw has more than 30 years experience in the international pharmaceutical industry in which he rose to the most senior levels of Pfizer s global management team His roles included Vice President of Pfizer Inc Executive Vice President Pfizer Consumer Group and President of Pfizer s Consumer Healthcare Division Mr Renshaw also led

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  • News Archive
    in increased mortality in critically ill patients 2 Clinicians can now be confident that in a heterogeneous population of intensive care patients albumin and saline are equally safe This data puts to rest any conjecture regarding the overall safety of ALBUMEX in the treatment of these patients in intensive care and justifies CSL s strong commitment to the manufacture of safe and effective plasma products such as ALBUMEX said Dr Darryl Maher Medical and Research Director CSL Bioplasma Within this heterogeneous population the response of several predefined subgroups to fluid resuscitation with either albumin or saline was investigated The researchers are now doing further analysis to determine which of those subgroups should be investigated in more detail This will shed light on the possible subgroup differences suggested by the initial data set Dr Darryl Maher said The S A F E Study which has been internationally recognised for its large patient sample size and excellent design confirms what many clinicians already thought that ALBUMEX can be used safely for a heterogeneous population of critically ill patients requiring fluid resuscitation The 7 000 patient S A F E Study is the single largest clinical trial ever conducted in the intensive care setting Conducted in 16 centres in Australia and New Zealand the S A F E Study was supported and funded by the Australian and New Zealand governments the Australian National Health and Medical Research Council the New Zealand Health Research Council the Australian and New Zealand Intensive Care Society ANZICS Clinical Trials Group the Australian Red Cross Blood Service The George Institute for International Health and CSL Limited via an unconditional research grant CSL Bioplasma a division of CSL Limited is Australia s national fractionator ALBUMEX is fractionated from blood and plasma voluntarily donated by Australians These donations are collected

    Original URL path: http://www.csl.com.au/s1/cs/auhq/1196562649899/news/1196562811664/prdetail.htm (2014-01-05)
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  • News Archive
    therapeutics business Aventis Behring from Aventis SA CSL will combine Aventis Behring with ZLB Bioplasma to create a new business ZLB Behring With ZLB Behring and CSL Bioplasma CSL is now positioned as a world leader in plasma therapeutics CSL Managing Director Dr Brian McNamee said Today s plasma products industry demands a broad portfolio of quality products an innovative R D pipeline an efficient high yield production operation the ability to balance market demands and outputs and a global marketing effort Within the CSL Group ZLB Behring is well positioned to realize all of these key attributes said Dr McNamee Peter Turner currently head of ZLB Bioplasma will be President of ZLB Behring which will be headquartered in King of Prussia Pennsylvania USA CSL Limited will remain headquartered in Melbourne Australia Mr Turner said The combination of ZLB Bioplasma s IVIG production capabilities with Aventis Behring s coagulation products haemophilia expertise and specialty products coupled with global marketing reach continues to represent a compelling opportunity Dr McNamee said Our integration planning during the pre closing period has continued to give us confidence that the acquisition will deliver enhanced economic returns This is consistent with the information provided during our

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    636 1m level with the corresponding period last year The consolidated earnings before interest income tax depreciation and amortisation EBITDA was 112m a decrease of 15 on the corresponding period last year As foreshadowed at the Company s Annual General Meeting in October 2003 the strong appreciation of the Swiss franc and the Australian dollar against the US dollar has had a significant impact on the operating results of the Company At constant currency rates EBITDA grew by 4 over the corresponding period last year Net profit after providing for income tax NPAT was 25 4m a decrease of 37 on the corresponding period last year or at constant currency a decrease of 0 6 to 39 9m Effective tax rate increased to 44 from 29 Operating cashflow was up 98 to 49 2m Earnings per share after tax before goodwill amortisation was 27 3c diluted a decrease over the corresponding period last year of 29 The Directors maintained an interim dividend payment of 12c per share fully franked to be paid to shareholders on 13 April 2004 the same as for the corresponding period last year OTHER DEVELOPMENTS Dr McNamee pointed to other developments for the half which included the sale of the Animal Health Business a strong performance in the Biosciences Business and the FDA approval of Rhophylac R used in the prevention of haemolytic disease of the new born In addition he pointed to a collaboration agreement with Chiron Corporation to develop a hepatitis C vaccine using Chiron s antigens and CSL s proprietary ISCOMATRIX R adjuvant technology OUTLOOK Given the complex process expected during the first three months of integrating Aventis Behring with ZLB and the yet to be confirmed closing date for the transaction Dr McNamee stated that near term forecasting was difficult to make

    Original URL path: http://www.csl.com.au/s1/cs/auhq/1196562649899/news/1196562811745/prdetail.htm (2014-01-05)
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    total of 27 9 million shares will be issued through this institutional placement to raise approximately A 438 1 million The new shares are expected to be allotted and issued on 16 December 2003 The placement was arranged and underwritten by Merrill Lynch and UBS Dr Brian McNamee Managing Director of CSL said I am delighted by the response of the market to the announcement of the acquisition of Aventis Behring as reflected by the level of interest in the institutional placement CSL thanks its shareholders for their ongoing support and looks forward to building ZLB Behring into a world leading plasma therapeutics group providing enhanced economic returns CSL will also offer eligible Australian and New Zealand registered shareholders the opportunity to subscribe for up to A 5 000 worth of shares through a share purchase plan SPP As previously announced the record date for the SPP will be close of business on 11 December 2003 and offers are expected to be sent to eligible shareholders in the next two weeks We hope that retail shareholders will also demonstrate strong support for the creation of a world leading plasma products group through participation in the share purchase plan said Dr

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    will be payable on 10 October 2003 bringing the total dividend for the year to 34 cents per share representing a payout ratio of 48 based on EPS after tax before goodwill amortisation CSL s Managing Director Dr Brian McNamee said that currency movements disguised the underlying strength of the company s operations Although revenues declined by 3 in actual terms year on year at constant currency rates revenues grew by 6 In particular CSL s Pharmaceutical Division generated sales revenues excluding logistics in excess of 200m for the first time with growth of 23 year on year he said Dr McNamee added that another highlight was the performance of JRH Biosciences Inc with revenue growth in US dollars of 28 to US 90 2m In addition Dr McNamee advised that although reported profitability had been impacted by adverse currency movements cash flows from operations were 115 5m and the balance sheet had strengthened with gearing reduced to below 30 emphasising the strong financial position of the group Commenting on the plasma products industry Dr McNamee said there was evidence that prices for IVIG in the US were beginning to stabilise and he observed that from recent announcements it appeared that corrective action was being taken by participants to address the market oversupply situation Aventis Behring Dr McNamee said that CSL s discussions with Aventis to acquire the Aventis Behring plasma products business were continuing Due diligence activities on operational matters had been well advanced Work still remained to be done on legal separation IT and financial issues HPV Vaccine In relation to progress on new product development Dr McNamee confirmed that the multinational Phase III registrational vaccine program with Merck on the quadrivalent HPV vaccine was now well underway following compelling evidence of efficacy in a Phase II clinical

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    Earnings per share after tax before goodwill amortisation was 38 7c diluted a decrease over the corresponding period last year of 20 Dr McNamee CSL s Managing Director said The Company has continued to increase its investment in the ZLB business by expanding its marketing and sales activity in the US and in Europe He noted however that the other businesses in the CSL Group had continued to show strong growth in the period especially JRH Biosciences Inc Dr McNamee advised that the Company had maintained its investment in R D expenditure spending more than 50m in the period demonstrating its ongoing commitment to innovation as part of its strategy to build a long term future for the business Dr McNamee advised that given a higher effective corporate tax rate and continuing currency volatility NPAT for the full year was hard to forecast with accuracy However on the basis of current indications the anticipated underlying trading performance of the Group was likely to be reflected as an EBITDA split of approximately 45 55 for the full year The final result however he added was very difficult to predict because of a number of key variables including fluctuations in exchange rates and IVIG market conditions in the US The Directors maintained an interim dividend payment of 12c per share fully franked to be paid to shareholders on 15 April 2003 the same as for the corresponding period last year Aventis Behring CSL has announced today that it is exploring the strategic option of acquiring Aventis Behring In connection with investigating this option the Company has entered into an agreement with Aventis to allow CSL to appropriately and exclusively evaluate this acquisition opportunity On January 31 2003 Aventis announced that its discussions with Bayer regarding a possible blood products joint venture were terminated and that it was proactively exploring alternative options As part of its 2002 review Aventis further stated its desire to divest Aventis Behring within the year 2003 Aventis Behring headquartered in the USA is a major player in the plasma therapeutic protein industry with a strong position in plasma derived and recombinant coagulation factors and has over 3 0m litres of processing capacity in the USA and Germany Dr Brian McNamee commented that the production and distribution of human plasma products is a core business for CSL and management and the Board regularly review acquisition opportunities as they arise Dr McNamee noted that this acquisition may provide CSL with a broadened and more balanced product portfolio greater geographical reach and currency balance and would more fully utilise ZLB CSL strategic assets He added that the current discussions with Aventis were at an early stage and may or may not result in a transaction with the ultimate outcome of these discussions depending among other things on whether the Company could secure a transaction that would be sufficiently attractive and value enhancing for CSL s shareholders JRH Biosciences Inc The Company also announced today that its US subsidiary JRH Biosciences Inc

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