Repligen (RGEN) Leerink Global Healthcare Conference 2026 summary

Growth outlook and guidance

• Projecting 9%-13% organic growth for 2026, with performance above the bioprocessing market but offset by gene therapy headwinds.

• Strong order book and momentum from 2025 support confidence in meeting guidance.

• Macro factors like pharma CapEx timing and FDA approvals could influence results, with CapEx improvement key to reaching the higher end of guidance.

• New modalities represented 16% of 2025 revenue, with cell therapy strong and gene therapy a headwind.

• Shipping disruptions and inflationary pressures are being managed, with minimal impact expected on delivery commitments.

Revenue cadence and order trends

• First half of 2026 expected to be seasonally weaker, with stronger growth in the second half due to gene therapy timing.

• Strong order momentum and highest probability conversion funnel since 2022, with broad-based opportunity across product lines.

• Capital equipment demand was flat in 2025, with low double-digit growth expected in 2026, driven by analytics and new product launches.

• SoloVPE installed base is 2,500 units, with a focus on upgrading older units and leveraging upgrade cycles for growth.

Market and regional dynamics

• Growth observed across pharma, CDMO, and emerging biotech customers, with emerging biotech showing signs of recovery but still below historical revenue levels.

• Clinical funding typically takes 2-3 quarters to convert to equipment orders, with a 9-12 month lag to sales.

• China and Asia Pacific are strategic priorities, with investments in local partnerships and leadership to drive growth.

• Broader Asia focus includes South Korea, Japan, India, and Singapore.