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CSL prepares to slash R&D as it grapples with looming Trump tariffs

The market is focused on a mooted 200 per cent levy on the pharmaceutical giant’s goods. There are far more significant changes afoot at the company.

Michael Smith

CSL appeared to be bulletproof for decades as Brian McNamee, its long-time chief executive turned chairman, led it the country’s fourth-largest company through string of offshore acquisitions, transforming the Melbourne-headquartered biotech into a world leader in plasma-based products.

But after decades of robust earnings and share price growth, the gloss has well and truly come off the healthcare giant over the last three years.

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Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com

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    Original URL: https://www.afr.com/companies/healthcare-and-fitness/csl-prepares-to-slash-r-and-d-as-it-grapples-with-looming-trump-tariffs-20250709-p5mdsa