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CSL share price higher on key Seqirus appointment

James Mickleboro
healthcare shares

The CSL Limited (ASX: CSL) share price has edged higher this morning following the announcement of a key appointment.

At the time of writing the biotherapeutics giant’s shares are up 0.25% to $223.13.

What did CSL announce?

This morning CSL Limited announced that it has appointed Ms Anjana Narain as the executive vice president and general manager of its Seqirus business.

CSL’s Seqirus business is one of the world’s largest influenza vaccines providers.

According to the release, Ms Narain is a seasoned leader in vaccines and biopharmaceuticals and is due to start with the company on August 1, replacing the retiring Gordon Naylor.

CSL’s CEO and managing director, Paul Perreault, spoke very highly of Ms Narain. He said: “In leading Seqirus, Anjana brings diverse, broad-based experiences as a well established global industry leader.”

Adding: “Anjana has focused on protecting public health throughout her career which will be important in continuing to advance Seqirus’ differentiated technologies and further grow its market reach. I look forward to working with Anjana and the rest of our management team in executing our strategy and continuing to sustainably grow our global business.”

Ms Narain certainly appears to be a good fit for the fast-growing influenza vaccines provider.

The release explains that she has a track record of strategic vision and strong leadership that has delivered industry-leading performance and sustainable growth.

The new leader of the Seqirus business has 27 years of experience with major pharmaceutical companies such as GSK, Merck, and Bayer.

Importantly, for nine years, Ms Narain led major businesses at GSK, including global influenza commercialisation, US respiratory biologics, and general management of vaccines, primary care and HIV.

She was also a member of the global vaccines commercial leadership team and the intercontinental leadership team.

Ms Narain said: “As a global leader in influenza prevention, Seqirus is well positioned to deliver sustainable growth. I am excited to lead an organisation that is on the front line in protecting public health around the world.”

Today’s small gain means that CSL’s shares are up over 20% since the start of the year. This makes its shares one of the best performers in the healthcare sector along with Cochlear Limited (ASX: COH) shares with their 27% gain and Ramsay Health Care Limited (ASX: RHC) shares with their 25.5% gain.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and CSL Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019