Bio-Techne beats quarterly estimates, flags tariff uncertainty for customers
Shares of the company, whose new fiscal year started in July, were down 8.1% at $50.24.
"We expect low single-digit growth until there is more certainty around various administration policies out there on academic funding, pharmaceutical tariffs and MFN (most favored nation) pricing," Chief Financial Officer Jim Hippel said on an investor call.
The biotech firm's comments about the near future clouded its better-than-expected fourth-quarter results.
Stock has declined 28.4% so far this year.
Significant cuts to U.S. academic research, along with potential tariffs for the pharmaceutical sector and the proposed MFN drug pricing model, have introduced a sense of uncertainty across the company's healthcare clients.
Bio-Techne, which develops and makes products used in medical research, drug development and diagnostics, said it saw steady demand from large drugmakers but their exposure to tariffs could change that.
"We do not anticipate a meaningful rebound in funding for smaller biotech companies until there is greater clarity around NIH (the National Institutes of Health) appropriations, tariff policies, and drug pricing reforms," said Hippel.
Trump said on Tuesday that the U.S. would initially place "a small tariff" on pharmaceutical imports, which can later be hiked to 150% and eventually to 250%. Details around such tariffs and how they will be implemented remain unclear.
The U.S. president's 2026 budget proposal also includes deep cuts for scientific research, including $18 billion from the NIH's funding, a 40% reduction.
During the fourth quarter ended June 30, Bio-Techne posted a profit of 53 cents per share, beating estimates of 50 cents, according to data compiled by LSEG data.
It reported total quarterly sales of $316.96 million, ahead of estimates of $315.60 million.
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