• Acquisition of Swiss Pharma receives Regulatory Clearance

News & Views

Acquisition of Swiss Pharma receives Regulatory Clearance

Aug 10 2022

Having received the necessary regulatory clearances for the acquisition of Swiss company Vifor Pharma AG previously announced on 14 December 2021, global biotech CSL (Melbourne) had anticipated that it would hold 97% of the acquired shares upon settlement of the public tender offer which was set for 9 August 2022. Planning for the integration of Vifor (St Gallen, Switzerland), a company specialising in serving therapeutic areas with significant unmet medical need, was said to be advanced before this date with Hervé Gisserot already designated as the new General Manager.

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.”

“We are pleased about the regulatory clearance for the transaction”, commented Abbas Hussain, Chief Executive Officer of Vifor Pharma. “As we complete the final steps on the CSL acquisition journey, I am full of confidence that Vifor Pharma will have a successful future as part of a larger, global organisation. This will allow us to accelerate growth and to successfully drive multiple product launches as we continue to help even more patients around the world live better, healthier lives.”

Hervé Gisserot, a demonstrated global leader with diverse biopharma experience, joined Vifor in January this year as Chief Commercial Officer, 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 of progressively more responsibility at Sanofi-Aventis, Aventis, Rhone-Poulenc Rorer and Fournier Group. He will report to CSL’s Chief Operating Officer, Dr. Paul McKenzie.

“I’m pleased to welcome Hervé to the role of General Manager. With his proven track record of leading high-performing organizations, executing successful product launches across a number of geographies around the world, and delivering profitable growth, we have confidence in his leadership,” Dr McKenzie said.

Current CEO Abbas Hussain is set to leave Vifor Pharma in the coming months. Jacques Theurillat, Chairman of the Board of Vifor Pharma, commented: “On behalf of the company, I would like to thank Abbas Hussain for his commitment and leadership during his tenure at Vifor Pharma. We wish him all the best for the future.”

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