“Now given the sustained and substantial activity levels at our customers over the last year, we anticipate high single-digit core revenue growth in bioprocessing for the full year 2026.”

In context

“mentation as academic research customers continue to face funding constraints. Core revenue in bioprocessing grew high single digits, with high single-digit growth in consumables and mid-single-digit growth in equipment. Consumables growth was supported by continued robust demand for commercialized therapies, particularly monoclonal antibodies. We were also encouraged by the return to equipment revenue growth in the quarter and by the third consecutive quarter of sequential equipment order growth. The orders remain below historical levels. Current momentum in our equipment order book and funnels is concentrated around shorter cycle projects such as line additions and brownfield expansions, with U.S. reshoring-related greenfield investments expected to provide incremental upside over time. Now given the sustained and substantial activity levels at our customers over the last year, we anticipate high single-digit core revenue growth in bioprocessing for the full year 2026. Growth is expected to be led by consumables, with our current backlog and order trajectory supporting the equipment revenue improving to approximately flat for the year. So we see a bright future ahead for Cytiva. Underlying biologic demand, which is the primary growth driver of our business, has grown at double-digit rates annually for more than a decade, and we expect strong demand growth to continue into 2026 and beyond. This outlook is supported by another year of robust FDA approvals for biologic medicines in 2025 and increased uptake of existing therapies during this year, which taken together drove global biologic revenues to surpass small molecule drugs for the first time. The development pipeline also remains strong, with biologics expected to represent more than two-thirds of th”