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 lowered its adjusted profit outlook and cut spending cost for 2025 as the company grapples with Chinese ban on its gene sequencers. Read more here.

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.