Illumina is reducing its forecast for this year’s financial performance and cutting $100 million in spending because China barred sales of the company’s gene-sequencing machines. San Diego-based Illumina is lowering its 2025 guidance to $4.

Illumina slashes costs by $100 million after China bans its sequencers. The company lowers its 2025 EPS outlook and aims for high-single-digit growth by 2027.

Illumina will seek to cut $100 million in expenses by the end of this fiscal year as it plans to deal with a loss of revenue from China, after the country banned the importation of its DN | Illumina also lowered its annual financial forecast,

GlobalData’s senior medical analyst says the ban will add to a downward trend for Illumina in the Chinese market.

Illumina on Monday lowered its annual forecast and said it plans to cut $100 million in spending after China announced a ban on imports of its genetic sequencing instruments. The company said it now expects 2025 adjusted profit of about $4.

Illumina (NASDAQ:ILMN) on Monday lowered its adjusted profit outlook and cut spending cost for 2025 as the company grapples with Chinese ban on its gene sequencers. Illumina now expects fiscal 2025 non-GAAP diluted EPS of about $4.