“And then Rachel, just on the kind of the additional kind of weakness we saw in China in Q3, some of that came through in revenue in Q3, but it's going to be more in terms of revenue in Q4 because of a lag in terms of bookings profile for an instrumentation business.”

In context

“in China versus rest of world? And then how should we think about that setup for instrumentation next year given you're going to face some of these difficult comps in the first three quarters? Marc Casper: So I'll probably keep it at a pretty high level. Awesome quarter in Analytical Instruments, 8% growth. Team is doing a good job. Our electron microscopy business, really performing extremely well. And great to see the uptake on Astral, which is our breakthrough mass spectrometer, which we launched in June. So those are the highlights. Our guidance for this year and our framing for next year reflects the customer caution and the non-repeat of some of the -- working through the disruptions of the pandemic on supply chain. So that's embedded in the outlook for the year. Stephen Williamson: And then Rachel, just on the kind of the additional kind of weakness we saw in China in Q3, some of that came through in revenue in Q3, but it's going to be more in terms of revenue in Q4 because of a lag in terms of bookings profile for an instrumentation business. So that's part of that dynamic of why Q4 is more impacted by the change profile that we saw in China. Rafael Tejada: Thanks, Rachel. Operator: Thank you. [Operator Instructions] Our next question comes from Puneet Souda from Leerink Partners. Puneet, your line is now open. Please go ahead. Puneet Souda: Yeah. Thanks, Marc, Stephen. Thanks for taking the questions. I'll wrap two of my questions into one. First, largely on M&A. Given the environment right now, the type of deals that you're doing, the type of valuations you're doing at, could you maybe just give us a sense of what you're seeing out there? Obviously, Olink, prior to that Binding Site and CorEvitas. Is that the type of sort of midsized deals that we should continue to expect here and the opportunity base that you are seeing in”