2230 GMT - CSL's vaccines business is in need of a shot in the arm. UBS says CSL's Seqirus unit missed its 1H revenue forecast by 6% as U.S. demand weakened again. Analyst Laura Sutcliffe thinks elevated flu cases in FY 2025 will drive a recovery in immunization rates the following year, but probably not back to FY 2024 levels. "In general, margins tend to scale with sales in vaccines," UBS says. Government contracts for H5 (bird flu) pandemic readiness are a bright spot. UBS estimates revenue from these contracts at US$150 million in 2H, building on an estimated in US$60 million in 1H. Still, UBS believes the percentage drop in FY 2025 vaccine sales will be in the mid-to-high teens when these contracts are excluded. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 11, 2025 17:30 ET (22:30 GMT)
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