Our biggest healthcare company says it isn’t scared of Ozempic

📆 10/16/2023 3:58 AM
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CSL has outlined its growth strategy to investors and played down concerns about weight-loss drugs’ impact on some of its key products.

CSL boss Paul McKenzie is confident that weight-loss drugs such as Ozempic are no threat to the company’s success as the biotech giant champions growth opportunities after a week of heightened investor scrutiny.

CSL chief executive Paul McKenzie is confident the company can deliver double-digit annual earnings growth over the medium term.Analysts immediately began running the ruler over the impact that drugs such as Ozempic could have on CSL Vifor, the Swiss pharma firm that cost CSL more than $16 billion and is focused on kidney disease treatments. “We think this could be a potential negative catalyst on CSL,” Morgan Stanley analysts said last week.

“There is not a big correlation between obesity reduction and the disease states that we work in,” McKenzie said.

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