This morning CSL (ASX:CSL) provided an update on the process of the transition to its own Good Supply Practice license in China in FY 2020.
This license enables CSL to own and sell products in the domestic Chinese market.
The release explains that CSL has been importing albumin into China for over three decades and is now the largest imported supplier in the country with sales of over $500 million in FY 2018.
As the company will be handling everything itself in FY 2020, product sales will only be recorded when the product leaves CSL’s own GSP distributor in China.
This removes reliance on third parties and allows CSL to work directly with clinicians.
Shares in CSL (ASX:CSL) are trading 2.88 per cent lower at $213.14.