CSL boss Paul Perreault has told investors there could be decades of growth on offer as the biotech giant expands its focus to treating patients with iron deficiency, heart failure and kidney disease through its $18.8 billion purchase of Swiss company Vifor.

Perreault defended CSL’s purchase of the business on Monday as management lifted the lid on the strategy and financial implications that will flow on from the purchase of the business, now called CSL Vifor.

“Did we have to do the deal? I’d say, probably not, but it’s a great opportunity,” he said. “I have talked about the fact that it’s hard to find a business that’s perfect - but I have to say I think Vifor is a perfect fit for CSL.”

Investors and analysts have been waiting for further details about how CSL Vifor, which specialises in dialysis, iron deficiency and kidney disease treatments, would fit into the broader CSL business. The purchase, which carried a $US11.7 billion ($18.8 billion) price tag, received a mixed response from stock watchers at the end of last year when it was announced, due to it being a significant departure from CSL’s focus on plasma products and vaccines.

On Monday, CSL said it expects Vifor to contribute a net profit after tax of between $US300 million and $330 million for 2023. The biotech’s new expected net profit after tax before amortisation (NPATA) will come in at between $US2.7 billion to $US2.8 billion. CSL had provided guidance back in August that the parts of its business excluding Vifor would generate between $US2.4 billion and $2.5 billion in profits.

CSL shares sunk as much as 2.8 per cent at the open, but recovered to close at $276.83.

In presentations about CSL Vifor’s products, the biotech confirmed it was looking to grow revenues by 10 per cent across the nephrology, iron and dialysis segments over the medium term.

General manager of CSL Vifor Hervé Gisserot said the business hoped to expand use of its flagship iron deficiency product, Ferinject, to help treat patients with chronic heart failure.