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CSL Ltd. — Capital/Financing Update 2024
Aug 29, 2024
17854_rns_2024-08-29_4e6084e5-1fdd-4404-acba-93f3d2e5a1a0.pdf
Capital/Financing Update
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For immediate release
30 August 2024
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SALE OF RUIDE OPERATIONS
CSL Limited (ASX:CSL; USOTC:CSLLY) today announces that it has entered into an agreement with Chengdu Rongsheng Pharmaceutical Co., Ltd. (Chengdu Rongsheng) to sell its Wuhan Zhong Yuan Rui De Biologicals Products (Ruide) plasma collection and fractionation operations for cash proceeds of USD$185m.
“The Ruide divestiture is a strategic decision by CSL to serve patients in China through a different approach that better aligns with our long-term strategy and CSL’s scale and capabilities across geographies,” said Paul McKenzie, Chief Executive Officer and Managing Director, CSL. “CSL remains committed to serving the needs of patients across China who depend on our portfolio of therapies, and we will continue executing our plans to bring additional innovative medicines for the benefit of patients in China.”
Ruide develops, manufactures and commercialises plasma-derived products for the Chinese market, including albumin and immunoglobulin. Ruide’s operations include five plasma collection centres and one plasma manufacturing facility in Wuhan, Central China.
The sale of Ruide is not expected to materially affect CSL’s operations or its overall business in China.
The transaction is expected to close by the end of calendar year 2024, subject to regulatory approval by relevant government authorities. In accordance with IFRS accounting standards, the assets and liabilities of Ruide were classified as held-for sale in the financial year 2024 (FY24) statutory accounts. Upon completion of the transaction a non-material gain on disposal will be recorded in CSL’s statutory accounts. This amount will be clearly identified and excluded from NPATA as a non-recurring item.
Chengdu Rongsheng Pharmaceutical Co., Ltd. is a subsidiary of Beijing Tiantan Biological Products Corporation Limited (BTBP), a public listed company whose parent company is China National Biotec Group (CNBG), a subsidiary of Sinopharm.
Authorised for lodgment by:
Fiona Mead
Company Secretary
For further information, please contact:
Media:
Investors: Media: Chris Cooper Bernard Ronchi Stephen McKeon Jimmy Baker Head, Investor Relations Director, Investor Relations Director, Investor Relations Communications CSL Limited CSL Limited CSL Limited CSL Limited P: +61 455 022 740 P: +61 3 9389 3470 P: 61 402 231 696 P: +61 450 909 211 E: [email protected] E: [email protected] E: [email protected] E: [email protected]