CSL could spend up to $2.2b on drug deal with Swiss biotech start-up

Updated Oct 5, 2026 – 4.41pm, first published at 10.40am CSL could spend up to $2.2 billion developing a drug to combat rare kidney and liver disease under an exclusive agreement with a Swiss biotech start-up, signing its first major deal since executing one of the biggest write-downs in corporate history. Australia’s largest pharmaceutical company posted a $US2.6 billion ($3.8 billion) loss in August , triggered by billions of dollars worth of write-downs related to the Vifor kidney treatment business it acquired in 2022. At the time, CSL interim chief executive Gordon Naylor said the business was back on track. Subscribe to gift this article Gift articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Fetching latest articles