Question · Q3 2025
Daniel Anthony Arias inquired about the demand from small and emerging biotech companies, asking if spending was loosening up. He also asked about China's pricing dynamics on the research and industrial side, specifically if it introduces additional risk or if the pricing environment is expected to remain stable into year-end and early 2026.
Answer
Chairman, President, and CEO Marc Casper noted a strong quarter for biotech, with good momentum in clinical research and early pharma services. He suggested that M&A by large pharma acquiring biotech helps the ecosystem, driving reinvestment. Regarding China, Mr. Casper stated it's a smaller percentage of total revenue, with academic/government pressured but pharma/biotech growing modestly. Overall China declined mid-single digits, an improvement from Q2. He expects full-year China to be down mid-to-high single digits, with pricing dynamics in industrial/pharma/biotech being more manageable than in diagnostics.