“Now at a high level, we actually expect the dynamic to be opposite of 2023 with a slow first half returning to growth in the second half.”

In context

“e peak and kind of what does your guidance assume kind of when that inventory reaches a normal state? Rainer Blair: Thanks, Dan. Good morning. And why don't I start off with sort of an overview here on how we've laid out the guide and then we can dig into your bioprocessing question in a little more detail. So, our guide for the full year of 2024 on revenue is down low single digits and now let me break that open and talk about the segments. Biotechnology will be down low to mid-single digits and that's different than bioprocessing. So, keep in mind I'm not talking about the Biotechnology segment in its entirety. The guide is down low to mid-single digits. Life Sciences down low single digits and Diagnostics up low single digits. And once again overall, that's then down low single digits. Now at a high level, we actually expect the dynamic to be opposite of 2023 with a slow first half returning to growth in the second half. And now let me talk just a little bit about the assumptions around our guidance. Starting with bioprocessing, which we're guiding to be down low single digits and we think the first half will look a lot like second half of 2023 down mid to high teens coming off of a fourth quarter which showed incrementally improved orders versus Q3. Second half we expect to return to mid to high single-digit growth and we believe by then that the destocking in North America and Western Europe will have largely been completed and of course the comps ease there as well. So importantly for bioprocessing, we think exit rate for the year will be high single digits or better core growth. Now if we look at Life Sciences, we expect Life Sciences to be down low single digits for the guide and we expect a slow sta”