Lonza Backs 2023 Outlook After In-Line 1Q
By Adria Calatayud
Lonza Group on Wednesday reiterated its outlook for 2023 after a first-quarter performance that the company said is in line with its expected trajectory for the full year.
The Swiss life-sciences company said it experienced robust commercial demand but that weaker demand for early-stage services such as pre-clinical and Phase 1 studies due to funding constraints in the biotech sector.
Lonza said it continues to expect a stronger second half of the year to balance a softer first half, and reiterated its guidance for high single-digit sales at constant exchange rates and a core earnings before interest, taxes, depreciation and amortization margin of 30% to 31% in 2023.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 10, 2023 01:29 ET (05:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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