CSL Limited (ASX:CSL) has announced the sale of its Wuhan Zhong Yuan Rui De Biologicals Products (Ruide) plasma collection and fractionation operations to Chengdu Rongsheng Pharmaceutical for USD$185 million in cash proceeds.
"The Ruide divestiture is a strategic decision by CSL to serve patients in China through a different approach that better aligns with our long-term strategy and CSL's scale and capabilities across geographies," said Paul McKenzie, the CEO and managing director of CSL.
"CSL remains committed to serving the needs of patients across China who depend on our portfolio of therapies, and we will continue executing our plans to bring additional innovative medicines for the benefit of patients in China."
Ruide develops, manufactures, and commercialises plasma-derived products, including albumin and immunoglobulin, for the Chinese market. Its operations include five plasma collection centres and one plasma manufacturing facility in Wuhan.
CSL said the sale of Ruide is not expected to affect its operations or overall business in China materially. Subject to regulatory approval from relevant government authorities, the transaction is expected to close by the end of the calendar year 2024.
