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Investing.com-- CSL Ltd (ASX:CSL) said on Tuesday it plans to demerge its influenza vaccines division, CSL Seqirus, into a separately listed entity and cut up to 15% of its global workforce as part of a sweeping restructuring, sending its shares tumbling.
The move comes alongside a stronger full-year profit as demand for plasma therapies and nephrology treatments offset a softer vaccines market.
By 00:26 GMT, Sydney-listed shares of the company slumped as much as 10% to A$245.45, their lowest level in more than a month.
The Australian biotech giant reported net profit after tax of $3.0 billion for the year ended June 30, 2025, up 17% at constant currency. Underlying profit rose 14% to $3.3 billion, while revenue grew 5% to $15.6 billion.
CSL declared a final dividend of $1.62 per share, up 12%.
Restructuring costs are expected to reach up to $770 million pre-tax in fiscal 2026, with the changes aimed at delivering more than $500 million in annual savings by 2028, the company said.
CSL also said it would restart a multi-year share buyback program from FY26, beginning with A$750 million.
Chief Executive Paul McKenzie said the changes would simplify the group and sharpen focus on core plasma and rare-disease therapies.