“So, just to confirm on the topic of emerging biotech, our assumption is and our guide reflects that the activity level in emerging biotech stays for the remainder of the year as it played out in the first quarter.”

In context

“ner Blair: Thanks Jack. Operator: And we will take our final question from Rachel Vatnsdal with JPMorgan. Please go ahead. Rainer Blair: Good morning Rachel. Rachel Vatnsdal: Great. Good morning. Thank you for taking the questions you guys. And so I appreciate all the comments that you have given on emerging biotech softness in bioprocessing with that customer set really down mid-teens in 1Q. So first, just a clarifying question. Did you say that you expect that emerging biotech to remain at mid-teen declines for the year? And then kind of shifting more longer term, can you talk about your assumptions around when you expect emerging biotech to return to growth? And at what point can this funding issue really pressure the long-term growth outlook for the bioprocessing market? Rainer Blair: So, just to confirm on the topic of emerging biotech, our assumption is and our guide reflects that the activity level in emerging biotech stays for the remainder of the year as it played out in the first quarter. So, we are not assuming any change there including that it doesn’t get significantly worse. Now, as it relates to how that segment progresses here, that’s from today’s point of view, hard to predict. We need to see where capital markets go, liquidity availability and yes, a stabilization and return to some degree of normality in the banking sector. But for the visibility that we have today, we are not expecting an improvement in that segment for the remainder of the year. Rachel Vatnsdal: Got it. And then maybe a few questions on China here. So, one of your peers recently signed China bioprocessing, I think you also mentioned that in one of your answers to earlier question. So, can you talk about how did bioprocessing performed during 1Q in China? And can you just give us some context of”