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Aussie Biotech CSL Buys U.S. Firm Talecris With Help Of $1.55 Billion Share Sell-Off

This article was originally published in PharmAsia News

Executive Summary

CSL acquired North Carolina-based Talecris Biotherapeutics in a $3.1 billion deal. To raise funds for the purchase - the largest deal by an Australian healthcare company - CSL sold 47.5 million shares at a 5.8 percent discount to the last traded price for a total of $1.55 billion. CSL Managing Director Brian McNamee said the acquisition will help boost sales by more than a third with the addition of immune disorder treatments, including products for lupus and multiple sclerosis. Talecris reported about $1.12 billion of net debt as of March 2008. (Click here for more
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