On 14 December 2021, global biotechnology leader CSL Limited announced a tender offer for all shares in Vifor Pharma Ltd, a global specialty pharmaceutical company with leadership in iron deficiency, nephrology & cardio-renal therapies. The offer values Vifor Pharma at USD 11.7 / CHF 10.9 billion.

Bär & Karrer acted as legal advisor to Vifor. The team consisted of Rolf Watter, Dieter Dubs and Stefanie Walch (all M&A and Corporate), Mani Reinert and Martin Werner (both Competition Law) as well as Susanne Schreiber (Tax).