AU Biotech Company Becomes Third Largest in the Country

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AU Biotech Company’s winning streak surges, propelling them to be third among the nation’s largest companies.

Commonwealth Serum Laboratories (CSL) is a biotech company with multiple businesses focused on the medical industry, such as CSL Behring, CSL Seqirus and CSL Vifor. The company grew to be one of the largest companies in Australia.

CSL is one of the oldest companies in Australia, having been established in 1916 to serve the nation’s needs. The company started as an Australian government body that focused on manufacturing vaccines.

Fast forward to today, CSL has evolved to become one of the leading companies in the medical industry. CSL is the mother company of several businesses: CSL Behring, the global leader in rare and severe diseases, while CSL Seqirus has become one of the biggest flu vaccine providers globally, and CSL Plasma, the world’s largest plasma collection company. Recently, 

CSL Vifor was established to become a global leader in iron deficiency and nephrology.

The company’s success can be attributed to its former CEO Paul Perreault. When Perreault took the post in 2013, he focused on expanding the portfolio of products and market segments. According to Perreault’s predecessor, Brian McNamee, Perreault’s stint as CEO of CSL Behring was outstanding.

The former CSL Behring executive was responsible for 85% of CSL Behring’s $4 billion annual revenues, making him the logical choice to replace McNamee. Perreault proved McNamee’s decision right. In just ten years, the company’s growth exploded.

And with the company’s growth, so too did its stock portfolios. Many experts consider CSL a ‘dream company’ in the stock market. According to asset manager Sean Sequeira, CSL is a dream company simply because it has “a strong competitive advantage, which operates in a growing market and is run by strong, accountable management that takes care of minority shareholders.”

Recently, CSL‘s net profit after tax (NPAT) for the first half of the 2022 financial year was AUD 1.1 billion, supporting Sequeira’s claim that it is a dream company.

Despite continuous inflation and a decline in market shares, CSL stock prices remained resilient, ensuring it remains one of the most substantial Australian companies amidst the possible global economic meltdown.

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