Key Points
Oct 31 (Reuters) - Bio-Techne (TECH.O) missed Wall Street expectations for first-quarter profit on Tuesday, as a persisting funding crunch among its biotech clients weighed on demand for its diagnostic products and compounds used in developing drugs...
Bio-Techne had said in August it was still unclear when the Chinese government's funding of new programs in life sciences would resume...
Larger rival Thermo Fisher Scientific (TMO.N) also offered a dour annual earnings forecast and cut revenue expectations last week, weighed by a slump in demand for its biopharma services...
Sales at the diagnostics and genomics unit, which makes clinical instruments, reagents and other critical care products used to diagnose diseases, rose 4% to $72.8 million...
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