Lon­za braces for 2024 prof­it im­pact due to Mod­er­na, Ko­di­ak man­u­fac­tur­ing cuts

Lon­za is prepar­ing for prof­it im­pact in 2024 be­cause of over­all biotech fund­ing con­straints, topped off by Mod­er­na’s con­tract can­cel­la­tion and its ex­pect­ed small­er busi­ness from Ko­di­ak Sci­ences due to its failed Phase III eye dis­ease pro­gram.

“2024 will be a some­what un­usu­al year for Lon­za,” CFO Philippe Deecke said dur­ing the CD­MO’s Cap­i­tal Mar­kets Day on Tues­day. While ac­knowl­edg­ing that the biotech sec­tor is fac­ing re­duced fund­ing, Deecke said it has “not wors­ened.” There are some signs that such fund­ing is pick­ing up, but the Swiss com­pa­ny is not ex­pect­ing it to have a pos­i­tive im­pact this year, he added.

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