"We are updating our full-year outlook to reflect ongoing funding and policy-related headwinds. While we are not satisfied with our current growth trajectory, we are implementing a comprehensive strategy to strengthen our Lab Solutions segment and are committed to moving with urgency to improve performance across the business. In addition, we are expanding our cost transformation initiative and now expect to deliver $400 million in gross run-rate savings exiting 2027."

"With these actions to accelerate growth and enhance our cost structure, we remain confident in Avantor's ability to drive long-term value creation," Stubblefield concluded.