Australia’s biotech giant CSL Ltd reported disappointing earnings, overshadowing a restructuring plan that includes a spinoff and cost cuts. Shares fell 17% in Sydney trading, wiping around A$22 billion off the company’s value. The full-year profit rose 17% to $3 billion, slightly above estimates of $2.97 billion.
Source: https://www.bloomberg.com/news/articles/2025-08-18/csl-to-spinoff-vaccine-unit-seqirus-plans-487-million-buyback