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CSL Limited responds to FTC announcement

29 May 09

CSL Limited has been informed that the US Federal Trade Commission (“FTC”) will file a complaint in the US Federal District Court to challenge CSL’s proposed acquisition of Talecris Biotherapeutics.

Dr. Brian McNamee, CEO and Managing Director of CSL Limited, said, “We strongly disagree with the FTC’s decision to challenge the deal. CSL intends to vigorously oppose the FTC’s actions. The FTC has failed to recognize that this combination is pro-competitive, provides significant efficiencies that will improve the supply of biotherapies, and is beneficial to the patient community. The Commission failed to take into account the substantial remedies that were offered by CSL which addressed their concerns especially in relation to plasma supply, Alpha-1 and RhoD.”

The FTC’s complaint will start a legal process in which the two sides will need to further research and present their respective arguments. Its likely that this will take five months. In the meantime, the FTC was expected to win a temporary restraining order that will stop the deal until a judge rules on the injunction.

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