Australian healthcare stocks fall most since 2020, dragged lower by CSL

Mesoblast

19/08/2025 07:04

** Australian healthcare stocks .AXHJ index slides as much as 8.8%, marks biggest pct loss since March 23, 2020

** Biotech giant CSL CSL.AX tumbles as much as 16.8% to its lowest since mid-August 2019, topping decliners on the benchmark ASX200 .AXJO

** CSL says it would spin off its vaccine division and shed about 3,000 employees as it reels from "unprecedented volatility" and what its CEO called "highly irrational" softness in demand for its vaccine busines in the U.S.

** After CSL, PolyNovo PNV.AX and Mesoblast MSB.AX drop 6.9% and 3.2%, respectively, among top laggards on the subindex

** YTD, AXHJ up 0.6% vs AXJO's gains of 9%

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))