All articles tagged with #csl
CSL has agreed to pay $355 million upfront and up to $1.2 billion in milestones to co-develop and co-commercialize Alentis Therapeutics' phase 2 fibrosis drug, lixudebart. The deal grants CSL 55% of profits and funding for trials in kidney and liver diseases, including a phase 3 study for antineutrophil cytoplasmic antibodies-associated vasculitis.
CSL cut its FY26 revenue forecast to $15.2B from $15.8B and will book a $5B impairment tied to the underperforming Vifor acquisition, as late-stage R&D failures and market pressures weigh on growth; the update followed the departure of CEO Paul McKenzie, with interim CEO Gordon Naylor emphasizing execution, and the news sent shares down about 16% to a 2017 low (YTD drop ~41%).
Asia markets opened mixed to start a holiday-shortened week, with Japan's Nikkei 225 reaching 34-year highs, while China remains closed for the week. The New Zealand dollar dipped following Reserve Bank of New Zealand governor's comments on inflation, and Australian biotech company CSL's shares fell after its cardiovascular drug failed a phase 3 trial. Additionally, tech stocks are still showing potential for further growth, with some tech stocks in Citi's list of top "high-conviction" picks from markets across the world.