(Reuters) – Catalent (NYSE:CTLT) Inc cut its full-year net revenue forecast on Friday, reflecting operational challenges and higher-than-expected costs after it flagged an over $400 million hit to both its annual sales and core profit forecasts earlier this month.

The contract drug manufacturer now sees its full-year revenue in the range of $4.25 billion to $4.35 billion compared with its prior forecast of $4.63 billion to $4.88 billion.

Catalent manufactures drugs, vaccines and gene therapies at 55 different sites for major pharmaceutical companies, including Moderna (NASDAQ:MRNA) Inc’s COVID-19 vaccine, Novo Nordisk (NYSE:NVO)’s weight-loss drug Wegovy and Sarepta Therapeutics (NASDAQ:SRPT)’ gene therapy for Duchenne muscular dystrophy (DMD).

The contract manufacturer has been facing challenges at three of its major production sites, which may affect its third and fourth-quarter revenue due to a slower-than-expected ramp up in production capacity.

After delaying its earnings report twice this month, Catalent, which received a delisting notice from the New York Stock Exchange, said it will provide a business update for the third quarter on a conference call on Friday rather than a normal review of its financial results.

Catalent shares fell about 6% to $30.32 before the bell.