Poor performance forces Sartorius Pharmaceutical to cut forecast for 2023

Emmanuel Thomas I Saturday, June 17, 2023

 

BERLIN – Sales revenue for the second half of the year is expected to be below expectations due to weak demand, German pharmaceutical and laboratory equipment provider Sartorius has warned, prompting it to lower its forecast for 2023.

The main factors likely to dampen Sartorius’ business growth are the longer-than-expected lasting reduction in inventories among biopharma customers following the Covid-19 pandemic as well as the relatively low investment activities of customers due to available production capacities, the company said in a statement.

The company now expects group sales revenue to decline in the low to mid-teens percentage range in fiscal 2023; excluding Covid-19-related business, revenue would decline in the mid to high single-digit percentage range.

Previously, it was expected that revenue growth in the low single-digit percentage range; excluding Covid-19-related business in the high single-digit percentage range.
All forecast figures are based on constant currencies.

Sartorius said it will publish its half-year figures for 2023 as scheduled on July 21, 2023.