CSL Plunges to 7-Year Low After US Vaccine Slump Hits Seqirus
Laboratory technicians at the CSL headquarters in Melbourne, Australia.
Photographer: Carla Gottgens/BloombergCSL Ltd. plunged to the lowest in almost seven years after Australia’s biggest drugmaker postponed plans to spin off its vaccines business, as falling US flu immunizations deepen concern over a slowdown in its Seqirus unit.
The biotech company, the world’s second-largest maker of influenza vaccines, said it expects US flu vaccination rates this season to fall 12% overall and 14% among people ages 65 and older, based on insurance claims data — one of the few indicators currently available on the state of vaccine uptake.