Shares of Australian biotech firm CSL
plunged to an 8-year low Wednesday after it announced the exit of Paul McKenzie as chief executive officer, and posted weak earnings for the first half of its fiscal year ended December.
Shares fell 17% to 151.3 Australian dollars, their lowest since February 2018.
Former senior executive Gordon Naylor has been appointed as interim CEO, effective Wednesday, until a permanent replacement is found.
CSL on Wednesday reported its net profit after tax plunged 81% year on year to $401 million as the drugmaker booked one-off restructuring costs and asset impairments. Revenue dropped 4% to $8.3 billion.
