Illumina Sees Decline in Core Segment Sales Due to Biotech Funding Crunch
Illumina's Sales Forecast
Illumina has recently announced expectations for a decline in full-year sales from its core segment, largely attributed to a growing funding crunch in the biotechnology sector.
Key Insights
- The company observes sluggish demand for its tools used in developing therapies and vaccines.
- Key markets like China are indicating a decrease in demand.
- Customers, particularly biotechnology firms, show caution in spending due to highinterest rates.
Sales Performance
According to CEO Jacob Thaysen, consumable sales have remained solid as customers continue to increase their sequencing activity. However, demand for instruments has softened significantly.
Future Projections
Illumina anticipates its Core Illumina revenue could decline by 2% to 3% compared to the previous fiscal year, reflecting the broader challenges faced by the biotech industry.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.