CSL to buy back $723M of its shares

Australia's CSL, which completed its acquisition of Novartis' ($NVS) flu vaccines business this year, has launched a AU$1 million share buyback. It is the ninth buyback for the company in the past 10 years and also the biggest it has ever undertaken. "Our ability to undertake another buyback of this scale is testament to CSL's strong financial position and excellent cashflow," CSL chairman John Shine told shareholders at the company's annual general meeting on Thursday. More