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CSL Limited Annual Report

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CSL Limited Annual Report CSL Limited Limited CSL CSL Limited Annual Report Annual Report 2017/18 2017/18 Driven by Our Promise™ Contents 02 About CSL 04 Our Businesses AGM NEW TIME YEAR IN REVIEW AND VENUE! 06 Key Business Highlights 08 Financial Highlights ANNUAL GENERAL MEETING 2018 10 Year in Review Wednesday, 17 October 2018 at 1pm 15 August Annual profit and final dividend Clarendon Auditorium announcement BUSINESS PROFILES Melbourne Convention and Exhibition Centre 11 September Shares traded ex-dividend 20 CSL Behring (MCEC), South Wharf, Melbourne 3000 12 September Record date for final dividend 28 Seqirus AGM LIVE WEBCAST 32 Research and Development 12 October Final dividend paid The CSL Limited Annual General Meeting will be 17 October Annual General Meeting OUR COMPANY webcast through CSL’s website CSL.com 31 December Half year ends 36 Directors Log on to the home page of CSL’s website and 38 Global Leadership Group then click on the item called Annual General 2019 40 Share Information Meeting webcast. 41 Shareholder Information 13 February Half year profit and interim dividend announcement 43 Corporate Governance at CSL SHARE REGISTRY 13 March Shares traded ex-dividend Computershare Investor Services Pty Limited FINANCIAL REPORT 14 March Record date for interim dividend Yarra Falls, 452 Johnston Street 46 Directors’ Report 12 April Interim dividend paid 54 Auditor’s Independence Declaration Abbotsford VIC 3067 30 June Year ends 77 Consolidated Statement of Postal Address: GPO Box 2975 14 August Annual profit and final dividend Comprehensive Income Melbourne VIC 3001 78 Consolidated Balance Sheet announcement 79 Consolidated Statement of Changes in Equity Enquiries within Australia: 1800 646 882 10 September Shares traded ex-dividend 80 Consolidated Statement of Cash Flows Enquiries outside Australia: +61 3 9415 4178 11 September Record date for final dividend 81 Notes to the Financial Statements Website: investorcentre.com 11 October Final dividend paid 116 Directors’ Declaration 16 October Annual General Meeting 117 Independent Auditor’s Report Please see inside back cover for legal notice 124 Medical Glossary 31 December Half year ends GOETTINGEN HATTERSHEIM SCHWALMSTADT GERMANY LIVERPOOL UK CAMBRIDGE Global Operations US KANKAKEE KING OF PRUSSIA MAIDENHEAD US US UK MARBURG GERMANY CSL BEHRING HEAD OFFICE SEQIRUS HEAD OFFICE GOETTINGEN PASADENA HOLLY SPRINGS HATTERSHEIM US SIENA ITALY US BASEL SCHWALMSTADT WUHAN GERMANY CHINA BERN TOKYO MESQUITE INDIANAPOLIS SWITZERLANDLIVERPOOL JAPAN US US UK KNOXVILLE CAMBRIDGE US US HONG KONG KANKAKEE BOCA RATON KING OF PRUSSIA CHINA US MAIDENHEAD US US UK MARBURG GERMANY CSL BEHRING HEAD OFFICE SEQIRUS HEAD OFFICE PASADENA HOLLY SPRINGS US SIENA ITALY US BASEL WUHAN CHINA BERN TOKYO MESQUITE INDIANAPOLIS SWITZERLAND JAPAN US US KNOXVILLE US HONG KONG BOCA RATON CHINA SYDNEY AUSTRALIA US MELBOURNE AUSTRALIA GROUP HEAD OFFICE RESEARCH AND DEVELOPMENT MANUFACTURING COMMERCIAL OPERATIONS TESTING LABORATORY SYDNEY AUSTRALIA LOGISTICS CENTRE DISTRIBUTION WAREHOUSING MELBOURNE AUSTRALIA ADMINISTRATION GROUP HEAD OFFICE REGIONAL SALES AND DISTRIBUTION RESEARCH AND DEVELOPMENT MANUFACTURING CSL Limited Annual Report 2018 1 COMMERCIAL OPERATIONS TESTING LABORATORY LOGISTICS CENTRE DISTRIBUTION WAREHOUSING ADMINISTRATION REGIONAL SALES AND DISTRIBUTION About CSL Driven by our promise, CSL is a global biotechnology leader which develops and delivers innovative medicines that save lives, protect public health and help people with life-threatening medical conditions live full lives. Our Group Values guide us in creating sustainable value for our stakeholders. Today, that same promise has never Innovation has been in the DNA of CSL’s continuing priority is to ensure Delivering on promises is been stronger. As a leading global CSL since our beginning in 1916 and the ongoing safety and quality of our biotechnology company, CSL delivers continues as the core of everything we medicines, while improving access to what we do at CSL. Starting medicines to patients in more than do today. Innovation spans all across our innovative therapies that make a real and more than a century ago 60 countries, and employs more than organisation – reflected in our 1,700- lasting difference to the lives of people in Melbourne, Australia, we 22,000 people who are driven by a deep plus dedicated scientists who focus who need them. To achieve this, we drive passion to serve thousands of patients every day on solving patients’ unmet a culture of continuous improvement in made a promise to save lives and other stakeholders around the world. needs, through the advancement of quality and compliance and undertake and protect the health of recombinant proteins and gene therapy capacity expansions around the world. CSL applies its world-class research technology, to our unique capability in people who were stricken CSL also invests in life-cycle and development (R&D), commercial creating one of the largest and most with a broad range of serious management and market development strength and patient-focused efficient plasma collection networks in for our existing products, and in medical conditions. management, along with its high- the world. quality manufacturing, to develop and the development of new product deliver innovative biotherapies, influenza CSL supports patient, biomedical opportunities for the longer term. We vaccines and support programs – all to and local communities by improving understand the unique challenges faced help save lives and treat people with life- access to therapies, advancing scientific by people stricken with life-threatening threatening medical conditions. knowledge, supporting future medical medical conditions because of our researchers, and engaging our staff in the long experience, deep knowledge and support of local communities. We also dedicated focus on preventing and contribute to humanitarian programs treating serious diseases. We expect that and relief efforts around the world. 2 CSL Limited Annual Report 2018 emerging new innovations and support programs can provide unprecedented opportunities to improve patient wellbeing unlike any other time in history. CSL’s commercial capability, combined with a focused global R&D organisation and proven operational excellence, give us the confidence to efficiently identify, successfully develop, and reliably deliver innovations that patients need and want. For more than 100 years, CSL has earned a reputation as a passionate yet responsible organisation which is driven to care for patients and deliver on its commitments. Today, our future has never looked brighter. CSL Limited Annual Report 2018 3 Our Businesses CSL BEHRING SEQIRUS CSL Behring is a global leader in leading immunoglobulin and specialty Seqirus was established on 31 July In Australia and the Asia Pacific biotherapies with the broadest range products that are shifting treatment 2015, following CSL’s acquisition of the region, Seqirus is a leading provider of quality products in our industry paradigms around the world, CSL Novartis influenza vaccines business, of in-licensed vaccines and specialty and substantial markets in North Behring knows how to meet the needs and subsequent integration with bioCSL. pharmaceuticals. It is also the world’s America, Latin America, Europe, of these unique populations. Seqirus is one of the world’s largest only supplier of a unique range of Asia and Australia. Our therapies are influenza vaccine companies and a major products made in the national interest With an integrated manufacturing indicated for treatment of bleeding partner in the prevention and control of for the Australian Government, including platform and production facilities located disorders including haemophilia influenza globally. It is a reliable supplier antivenoms and Q fever vaccine. in the United States (US), Germany, and von Willebrand disease, primary of influenza vaccine for Northern and Switzerland, Australia and China, we and secondary immunodeficiencies, Southern Hemisphere markets and a use the most sophisticated production hereditary angioedema, neurological transcontinental partner in pandemic methods available to meet or exceed disorders and inherited respiratory preparedness and response. stringent safety and quality standards disease. Our products are also used to around the world. Seqirus operates state-of-the-art prevent haemolytic disease in newborns, production facilities in the US, the for urgent warfarin reversal in patients CSL Plasma, a division of CSL Behring, United Kingdom (UK) and Australia and with acute major bleeding, to prevent operates one of the world’s largest utilises both egg-based and cell-based infection in solid organ transplant and most efficient plasma collection manufacturing technologies as well as a recipients and treat specific infections, networks, with more than 200 centres proprietary adjuvant. It has leading R&D and to help victims of trauma, shock and in the US and Europe. Each step of our capabilities, a broad and differentiated burns. manufacturing process – from plasma product portfolio and commercial donor to patient – reflects CSL Behring’s From our family of recombinant operations in more than 20 countries. unyielding commitment to ensuring our coagulation products that aim to products are safe and effective. dramatically improve the lives of patients with bleeding disorders, to industry- 4 CSL Limited Annual Report 2018 RESEARCH AND DEVELOPMENT (R&D) CSL continues to develop innovative biotherapies that address unmet medical needs or enhance
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