Key Points

• CSL (ASX: CSL) shares have experienced significant weakness, with reports of multi-year lows during 2025 and into 2026 following several guidance revisions.
• The company has cut FY26 revenue and earnings growth expectations more than once, citing US vaccine-market headwinds and plasma-related pricing pressure.
• CSL announced a major restructuring in August 2025, including a planned CSL Seqirus demerger, workforce reductions and a buyback, with the demerger timing later pushed back.
• CSL Behring remains the core profit engine, while CSL Vifor has been affected by reported non-cash impairments.
• Investors are debating valuation, pipeline progress and recovery potential…