US FTC blocks CSL's $3.1-billion acquisition of Talecris Biotherapeutics

25 May 2009

The world's second-largest plasma products maker, Australia's CSL, had its ambitions derailed to become the world's biggest with the acquisition of rival Talecris Biotherapeutics, by the US Federal Trade Commission (FTC) blocking the takeover yesterday.

CSL had in August last year, agreed to acquire Talecris for $3.1 billion, which would have made the Melbourne-based  plasma maker one of the world's leaders in plasma-derived and recombinant products.

In a meeting with CSL's managing director, Dr Brian McNamee with the US Federal Trade Commission in Washington, McNamee was told that after reviewing CSL's case and remedy proposals, the regulator ad recommended that the commissioners initiate legal action in the US District Court to block the transaction.

A vote and decision by the commissioners is imminent, and is likely to be announced by Thursday, 28 May 2009. After that the company will decide whether to contest the decision or not, CSL said.

The FTC has ruled against the acquisition on anti-trust grounds, as CSL is the second largest producer of plasma products in the US, behind the world leader, the US-based companies, Baxter International, and Talecris Biotherapeutics, being the North Carolina-based Talecris being the third.

The acquisition of Talecris would have made CSL the leader in the$15-billion global market for plasma-derived and recombinant products.