Medical gloves and protective suits maker Ansell warned its full-year profit will be substantially lower because demand for single-use medical gloves has started to wane, and margins are crunched, triggering a heavy share price slide for a company that was one of the pandemic’s glamour stocks.

Ansell shares plummeted almost 24 per cent in early trading on Monday to $23.76, which marked its lowest point since March 2020, before making a partial recovery in late trading. It closed at $26.76, down 14.3 per cent for the day.