March 10 (Reuters) - Illumina ( ILMN ) on Monday lowered

its annual forecast and said it plans to cut $100 million in

spending after China announced a ban on imports of its genetic

sequencing instruments.

The company said it now expects 2025 adjusted profit of

about $4.50 per share, compared to its previous expectation of

$4.50 to $4.65 per share.

The company added that the cost savings would mitigate the

impact of a potential reduction in revenue and related operating

income from the company's Greater China business.