CSL Limited (CSL) is a biotherapeutics company whose principal activities are research, development, manufacture, marketing and distribution of biopharmaceutical and allied products. The company operates three segments: CSL Behring manufactures, markets and develops plasma therapies; the Seqirus segment manufactures, sells and distributes a range of vaccines, antivenoms and other pharmaceutical products in Australia and New Zealand; and CSL Intellectual Property is engaged in licensing of intellectual property.
CSL has solid quality management systems in place; the company audits suppliers against relevant regulations, monitors ethical marketing practices, and protects its supply chain against counterfeit drugs through increased serialization. The company also ensures ethical business conduct by offering online trainings to its employees and performing due diligence on all new third-party intermediaries. Moreover, the company’s anti-corruption code expressly prohibits facilitation payments. CSL implements environmental management systems at all of its facilities and certifies many of those facilities to external standards for environmental management and occupational health and safety such as ISO 14001 and OHSAS 18001. The company also has initiatives to reduce operational environmental impacts through green building measures, waste and water management, and some logistics improvements. Additionally, the company reports trend data across key responsibility performance indicators. Lastly, CSL’s human capital management is superb, offering competitive compensation packages that drive personal performance, robust personal development opportunities and tuition reimbursements, and formal grievance mechanisms and annual surveys to monitor employee satisfaction regularly.
Despite some monetary and in-kind product donations, CSL fails to significantly contribute toward providing access to health care to underserved communities, particularly in emerging markets.
Industry: Health Care
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.