By Olivia Bugault

Lonza Group AG gave new midterm financial targets and set its strategic priorities for the coming years as it is hosting its capital-market day on Tuesday.

The Swiss life-sciences company said that it has updated its 2024 outlook and now expects sales at constant exchange rate to grow in the low teens, while its core earnings before interest, taxes, depreciation and amortization margin should be between approximately 33% and 35%.

The company also said capital expenditure should reach around 25% of sales this year and will remain high until it returns to the high teens by 2025.

Lonza said that, among its priorities for the years to come, the company will accelerate its derisked investment program to boost sustainable growth.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

10-12-21 0147ET