CSL 1.85% $273.30 csl limited

Thanks redpencil for your thoughts. Yes CSL was privatised in...

  1. 2,160 Posts.
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    Thanks redpencil for your thoughts. Yes CSL was privatised in 1994 whilst under the continuing stewardship of Dr Brian McNamee.
    As a brief background to current events it is probably worthwhile to start in the early 90's When the Canadian government called a Royal commission into tainted blood in Canada which was headed by Justice Horace Krever. As part of this enquiry a blood task force was formed under the command of Supt Rod Knecht of the RCMP (Royal Canadian Mounted Police) which resulted in 32 criminal charges being laid against against Armour Pharmaceuticals (blood fractionator, factor 8 concentrate) and the Canadian Red Cross.

    In the late 90's early 2000's Senator Brian Harradine ( Dcd) called for a Royal Commission into the tainted blood issue in Australia, and contemporaneously enquiries were called for in other Commonwealth countries in relation to the issue.
    Given the outcome of what had transpired in Canada there were bipartisan concerns by the Australian government that encompassed the activities of the Red Cross, CSL and Federal Health Dept. The Royal commission that had been called for 'watered down' by the Federal Government to a Senate Enquiry which by its very nature gave government control over outcomes. (The very issue that Sir Brian Langstaff in the UK enquiry currently focussing his attention on)
    So it will be interesting to see where the issue evolves to from here particularly with evidence that is currently being presented in the UK. It is complex, however one would ponder the question how far, and what limitations the Federal
    Government would have on indemnifying CSL
    Personal thoughts only.


 
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