Australian Healthcare: Healthcare Daily: News, research & industry feedback

Research evidence excerpt

Australian Healthcare: Healthcare Daily: News, research & industry feedback

Global Research

15 June 2026ab

Australian Healthcare Equities

AustraliaHealthcare Daily: News, research & industry

feedback Healthcare

David Low

Analyst

david.low@ubs.com

Stocks covered: CSL, ANN, COH, RMD +61-2-9324 2843

James Meares

News and press releases Analyst

james.meares@ubs.com

+61-29-324 3575CSL: "Lonvoguran Ziclumeran — In Vivo CRISPR Gene Editing in Hereditary

Angioedema" (NEJM ,10 Jun) Grace Allen

Associate Analyst

grace-za.allen@ubs.com

UBS View: This publication confirms the top line results released last April for Intellia's +61-2-9324 2000

gene therapy treatment for HAE. This is incrementally negative for CSL signalling new

competition from a one-time gene therapy is likely to come to market in 2027. We

covered this in detail here.

CSL: "Grifols Egypt continues its growth plan through 2029 with an additional

investment of €180 million" (Company PR, 12 Jun)

Grifols will add an incremental €180 million to Grifols Egypt for Plasma

Derivatives (GEPD), the company’s joint venture with the Egyptian government.

€280 million is already invested in the project’s development to date.

Goal remains to attain 3m litres of plasma by 2029. First phase of construction

on the new industrial complex to commence Oct 2026.

Grifols Egypt currently operates 16 donation centers in Egypt, with four

additional centers planned for 2026. Once the network of 20 centers is

completed, the company expects to continue expanding its national network.

UBS View: Grifols’ ongoing investment in Egypt reinforces its strategy to secure lower-

cost plasma, which we expect to support a medium-term cost advantage versus CSL

outside the US. However at this stage the implications are modest given the scale of the