In this case go with RudiCs excellent suggestion: "-v" inverts the match, excluding the lines matching the pattern and "-f" reads the patterns from a file instead of arguments from the command line. His command will process all the patterns in one pass.
Can I add a word of caution that the lines in your exclude file will match anywhere on the line in your input file. If you need to ensure that it is (for example) only lines starting with abc then your exclusion file should be written as ^abc
So, for the input file:-
abc123
def456
123abc
456def
The end
... and the exclusion file:-
abc
you would get just:-
def456
456def
The end
If you exclusion file is
^abc
... then the output would be:-
123abc
def456
456def
The end
If you want to exclude lines with the listed patterns in other specific places then there are usually ways to do that too.
I hope that this helps avoid a problem (if it even exists)
Robin