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CSL Ltd (CSL) $238.24

CSL -6.3%: the GLP-1 troubles that have plagued ResMed (RMD) over the last month have also put pressure on the biopharma company, sending the stock to 4-year lows today. Novo Nordisk is currently trialling their GLP-1 drug on chronic kidney disease (CKD) and Type 2 Diabetes (T2D) with a 5-year study expected to be completed late next year. The trial has been halted early given the outstanding results already meeting efficacy outcome requirements, with the data now expected to be published a year early. Around 8% of CSL’s earnings may be impacted by the study, stemming from the Vifor business’s nephrology and dialysis (kidney disease treatment).

  • More pain in the healthcare sector as a result of GLP-1, we do not plan on increasing exposure here
MM is now neutral CSL
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