CSL Completes Acquisition of Aventis Behring to Create ZLB Behring
Melbourne, Australia. CSL Limited announced the completion on March 31, 2004 of its acquisition of global plasma 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 recent fundraising for the acquisition".
"We have a clear plan for integration and talented people in the combined business to make the changes required to achieve strong leadership in a competitive market", said Dr McNamee
In order to provide additional time to finalise the financials of the combined entity for the first time, the company's full year result announcement has been changed from 18 August to 26 August 2004.
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