CSL has recorded substantial losses in first half year 2026 financial results reported yesterday, with earnings down 81% after it was forced to write down the value of its assets by $1.6 billion.
Despite a headline that the "transformation program is progressing well", CFO Ken Lim stated, "we are clearly not satisfied with our performance and have implemented a number of initiatives to drive stronger growth going forward".
Lim highlighted impacts on revenue, such as increased competition in the market for iron deficiency products, falling revenues for its core blood plasma business, reduced demand for vaccines in the US due to policy changes, and US regulatory hurdles.
The release of 1H financial results was prefaced on Tue with the announcement of CEO Dr Paul McKenzie's sudden retirement, with board member Gordon Naylor named as interim CEO and MD.
Naylor, who has been with CSL for 33 years, is expected to lead for the next year while an international search for a permanent CEO takes place.
The company said it has ambitious growth plans for the rest of the year, and reaffirmed its guidance for around 2-3% growth in revenue and 4-7% net profit after adjusting for one-off restructuring costs.
The above article was sent to subscribers in Pharmacy Daily's issue from 12 Feb 26
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 12 Feb 26
