CSL Limited Annual Report 2022/23 5 The Board of Directors and management team are aligned in our focus. We understand our strengths and are guided by our 2030 Strategy, which defines the guardrails for accelerating sustainable and profitable growth. We unashamedly operate with long-term success in mind. This involves making smart, bold choices today that seek to benefit people and patients well into the future. This year, several important capital investments were completed. As I visited our sites around the world, I was impressed to see these, and the teams responsible for their success, firsthand. In August, we successfully closed the acquisition of CSL Vifor. The integration into the CSL group is well advanced and I want to recognise all the hard work that has gone into this so far. While we have only owned CSL Vifor for a short time we’re excited by the opportunity to grow the iron franchise, to drive new indications, expand into new geographies and improve access. In Broadmeadows, Victoria, we opened our US$600-million Plasma Fractionation Facility. This is the largest of its kind in the Southern Hemisphere, and allows us to process up to 9.2 million plasma equivalent litres per annum, a nine-fold increase on the previous capacity. In March, we opened its sister facility in Marburg, Germany. Featuring identical equipment and processes, we aim to leverage best practice to further improve the efficiency of our network strategy. Also in Marburg, after three years of construction, we opened our new US$160-million R&D site. Covering around 40,000 square metres, the M600 centre provides space for up to 500 R&D employees, making it CSL’s largest R&D hub worldwide and combining all disciplines under one roof. In March, we opened the company’s new state-of-the-art vaccine R&D centre near Boston, Massachusetts, United States. At this site, we will aim to accelerate the development of next-generation mRNA technology for vaccines and collaborate with local partners within this world class research ecosystem. Innovation Agenda These new facilities are intended to underpin the next phase of innovation for CSL. But this doesn’t happen without our people who spend their days investigating new ways to serve patients and public health. R&D, coupled with relentless and disruptive innovation across all parts of the business, has been vital to our success. CSL will continue to build a full and innovative pipeline that has the potential tomake ameaningful difference to the lives of patients and to public health. A key part of CSL’s innovation agenda is forming strategic partnerships with others. This includes partnering with Arcturus Therapeutics to develop and deliver next-generation mRNA vaccines, and with UniQure on gene therapy. At times, this means disrupting ourselves. In 2016, we launched IDELVION®, a recombinant factor IX albumin fusion protein, and it quickly became the standard of care for thousands of patients suffering from haemophilia B. However, we did not stop innovating. Haemophilia B is caused by a gene mutation, so we partnered with UniQure to commercialise the world’s first gene therapy for adults with haemophilia B, called HEMGENIX®. This year we received approval for HEMGENIX® in the United States, Europe and the UK. While there may be some patients who decide to switch from IDELVION® to HEMGENIX®, we recognise that we need to disrupt ourselves so we can make more breakthrough therapies available to those who can benefit. We must take innovation of all shapes and sizes and move it to commercial reality. This is a strategic imperative for us, and can generate speed, efficiency and value. Outlook I remain optimistic about the prospects of CSL. CSL is well placed in markets where we operate. We have a strong financial base, and we have the right leaders to guide our next phase of growth. I can assure you that our people are committed to our purpose and the great vision we share for our company. Paul McKenzie CEO and Managing Director
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