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Australia's CSL delays spin-off as US flu vaccine rates decline
Yahoo Finance· 2025-10-28 08:24
By Rishav Chatterjee (Reuters) -Australian biotech CSL on Tuesday delayed its planned vaccine division spin-off and cut earnings forecasts due to a bigger-than-expected decline in U.S. flu vaccination rates, sending its shares down as much as 16.6%. The company told shareholders in August that it would spin off CSL Seqirus into a listed entity on the Australian Securities Exchange by next June as part of a broader restructuring plan that also involved cutting 3,000 jobs. At that time, it believed vaccin ...