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

05-10-23 0129ET