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.

The San Diego company also lowered its financial guidance for 2025 in response to China’s import restrictions.

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,

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.