Australian drugmaker CSL announced a major restructuring plan involving up to 15% workforce reductions and the spin-off of its vaccine subsidiary Seqirus into a standalone public company. The move aims to streamline operations and reduce costs by over $500 million annually within three years. Seqirus, CSL’s flu vaccine business, will gain autonomy to pursue strategic opportunities in an increasingly dynamic vaccine market. Despite revenue growth, CSL cited competitive pressures and organizational complexity as drivers of the overhaul.