“And all of this reaffirms our belief that bioprocessing is a high single-digit grower both in 2025 and the long term.”

In context

“ing better funnel activity but we continue to see order delays with trade policy creating some incremental noise here probably slowing some decision making. Now overall, our book to bill was consistent with prior quarters and around one, with some lumpiness in equipment orders. And overall orders activity in the first half and second quarter are fully supportive of a high single-digit core growth in the second half. So if you put all that together here and it's I think it's important also comment on the top line performance here, which continues to drive strong profitability with fall through of over 50% in bioprocessing in the first half. So when you put all that together, we're really encouraged by the strong first half. We expect high single-digit growth in the second half of the year. And all of this reaffirms our belief that bioprocessing is a high single-digit grower both in 2025 and the long term. Michael Ryskin: Okay. Thanks. I want to touch on something that you also brought up a couple of times. You mentioned global trade tensions. Few times in the prepared remarks. You just touched on it in your prior answer. If you could expand on that, where you're seeing it? Is it sort of what regions geographically and also what customer segments, whether it's pharma, or some of the more industrial or applied markets. Is it pausing of orders? Is it cancellation? Is it delays of new orders? Just sort of how are you seeing those dynamics play out? And do you expect a recovery in that or improvement in that as we go through the rest of the year and we have sort of continued discussion on the tariff front? Thanks. Rainer Blair: So, Mike, I mean, I think there's a general overlay here of trade u”