Danaher’s third-quarter revenue from biotech services down 19% amid slowdown in China, US

An an­tic­i­pat­ed re­duc­tion in biotech sales con­tributed to Dana­her’s third-quar­ter per­for­mance drop­ping rel­a­tive to last year, the com­pa­ny re­vealed Tues­day. This is in the midst of biotech’s broad­er loss of mo­men­tum in key mar­kets.

The life sci­ence com­pa­ny’s rev­enues from biotechs plum­met­ed by 19% from the same quar­ter last year to $1.66 bil­lion, ac­cord­ing to Za­cks Eq­ui­ty Re­search. A “mod­est step down” in phar­ma and biotech saw big cus­tomers tight­en their belts in the US and Chi­na, CEO Rain­er Blair added on an earn­ings call Tues­day, as per an Al­phaSense tran­script.

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