Overview
- CSL now forecasts a 12% decline in US influenza vaccination rates and a mid-teens fall in Seqirus flu vaccine revenue, worse than its previous high single-digit expectation.
- The company downgraded FY26 revenue and earnings guidance and its shares fell more than 16%, erasing up to $17 billion in market value.
- CSL postponed the planned demerger of Seqirus, saying it is no longer targeting completion in FY26 and will revisit timing when market conditions improve.
- Chair Brian McNamee told the annual meeting the double-digit drop in US vaccination rates came as a shock after prior declines and last year’s severe disease season.
- Shareholders delivered another strike against the remuneration report as two proxy advisers urged a vote against it, while an RBC analyst flagged the weaker growth outlook as a driver of the sell-off.