A new high!, page-27

I was at an event recently in which Paul Perreault, CSL CEO & MD, was the key note speaker. Here were a few highlights / notes:

- R&D pipeline and CSL112 product (preventing 2nd heart attacks) have enormous growth potential  (nothing new but Paul's sentiments were one of excitement)

- CSL isn't afraid to take calculated risks, as history suggests (big focus on 100 year anniversary / heritage in this presentation). I do happen to know they've thrown every major human resource at the Novartis acquisition in the UK/US - the flu business should start turning positive revenue in 18-24 months.

- Less than 10% of revenue comes from Australia. Supply chain is difficult, labour is expensive, making it unattractive for upscaling or invesing further. He made a comment that the R&D hub remains strong in Parkville and is world leading in the field.

- CSL in China makes half a billion off one product only. Various regulations inhibit further products (plus China's health infrastructure and doctor awareness of rare disease is apparently not up the same standard as Europe/US), but he did hint this is evolvong and offers huge growth potential. Given China is 5 times the population of the US you can imagine the potential profits one day if they break further into Asia.

So 100 years down for CSL, 24 years as a listed company. They even made a fabulous movie production that every shareholder should watch:



If the link doesn't work search for 'CSL movie' on YouTube.

Happy holding (bad luck if you ever sell!)
Bud