Some of CSL’s biggest shareholders are refusing to flinch on their outlook for the pharmaceutical giant despite more than $40 billion being wiped from its market value following a second profit warning in as many months.
After fund managers jumped into CSL in the aftermath of a brutal August earnings season, the ASX heavyweight plunged another 15 per cent on Tuesday as the company cut its full-year earnings and revenue forecasts and shelved plans to spin off its vaccines arm because of anti-vax sentiment in the United States.
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