Sydney, March 19, 2026, 10:50 AEDT
CSL Ltd repurchased 74,167 more shares on March 18, yet the stock ended the session 2.23% lower at A$138.00. Investors weighed a new alert: supplies of its hemophilia B gene therapy HEMGENIX are temporarily short worldwide.
Just five weeks ago, CSL jolted the market with an 81% plunge in first-half profit, hefty write-downs, and the sudden exit of CEO Paul McKenzie—a combination that knocked shares down to their lowest level in eight years. The stock is now sitting at A$138.00, nearly halved from its 12-month peak of A$272.00, down about 49%.
One of Australia’s healthcare giants faces a test: can capital returns calm investors while interim chief Gordon Naylor works to revive the core Behring plasma unit and contend with sluggish U.S. vaccine sales at Seqirus? Following February’s earnings, Naylor told analysts he was “not prepared to accept that we can’t do better.” Reuters
On March 17, CSL announced that HEMGENIX is temporarily out of stock worldwide, putting some patients on hold for treatment in countries where the therapy is already available. Dr. Deborah Long, senior vice president for medical affairs, stated in a letter that the problem isn’t tied to HEMGENIX’s safety or efficacy, but rather to the “complexity of manufacturing gene therapies.” Global Newsroom | CSL
CSL disclosed in a March 19 filing that it picked up 74,167 shares for A$10.3 million, paying between A$138.00 and A$141.15 apiece. That’s on top of 4,555,483 shares already scooped up before the session, totaling A$813.4 million, part of a buyback program with a US$750 million ceiling.
Even with that backing, CSL shares have tumbled—down roughly 49% from their 12-month peak. The drop accelerated when CSL lowered its outlook for fiscal 2026 revenue and profit growth in October and pulled the plug on the Seqirus spin-off, following a steeper-than-anticipated decline in U.S. flu vaccinations.
CSL isn’t alone here. Pfizer pulled the plug on global development and commercialization of its hemophilia B gene therapy Beqvez last year, blaming slack demand. Back in January, Reuters also pointed out that GSK and Sanofi saw U.S. flu-vaccine sales drop, even with a tougher season.
The buyback might not catch CSL if the HEMGENIX shortage lingers or U.S. vaccine appetite sags further. Back in January, Reuters cited Jefferies analyst Michael Leuchten flagging a “consumer reaction” to vaccine rhetoric out of the U.S. After CSL posted results in February, Citi pointed out that its outlook left little room for missteps. Reuters
