CSL has appointed Deborah Waterhouse as CEO and managing director from February 2027. She has led ViiV Healthcare, the HIV business of UK drugmaker GSK, since 2017 and ran GSK in Australia and New Zealand from 2008 to 2012. Interim CEO Gordon Naylor stays on until then and returns to the board.
CSL is trading within a range we consider fairly valued.
Price
A$197.10
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say
Bulls
CSL is investing in plasma yield initiatives, leaving it well positioned to take advantage of growth opportunities in the key immunoglobulins market.
Bears
Areas of the plasma industry could be replaced by newer therapies, which would leave CSL overinvested in plasma collection and fractionation capacity that will be hard to repurpose.
CSL is one of the largest global biotech companies and has three main segments. CSL Behring uses either plasma-derived proteins or recombinants to treat conditions including immunodeficiencies, bleeding disorders, and neurological indications. CSL Seqirus is the world’s second-largest influenza vaccination business and was acquired in fiscal 2016. CSL Vifor is an iron deficiency and nephrology business and was acquired in fiscal 2023. CSL has a strong R&D record, and its product portfolio and pipeline include nonplasma products as the firm continues to broaden its scope. Originally formed in Australia as a government-owned entity, CSL now earns roughly half its revenue in North America and one-fourth in Europe.