Mettler Toledo

“We are vulnerable to system failures and data loss risks, which could harm our business. We rely on our technology infrastructure to interact with suppliers, sell our products and services, support our customers, fulfill orders, and bill, collect, and make payments. Our systems are vulnerable to damage or interruption from natural disasters, power loss, telecommunication failures, malicious employees or employee negligence, computer viruses, and other events.”

Annual report 2025A · The company itself

“We have also been implementing our Blue Ocean program to globalize our business processes and information technology systems that includes the implementation of a Company-wide enterprise resource planning system. This has been proceeding on a staggered basis over a multi-year period. We estimate that we have more than 95% of our users on the program and will continue to implement additional locations and functionality over the coming years.”

Annual report 2025A · The company itself

“Laboratory balances are primarily used 4 Table of Contents in the pharmaceutical, biotechnology, testing lab, food, chemical, cosmetics, academia, and other industries.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Industrial Instruments We manufacture numerous industrial weighing instruments and related terminals and offer dedicated software solutions for the pharmaceutical, chemical, food, discrete manufacturing, and other industries.”

Annual report 2025A · The company itself

“In addition, we manufacture metal detection, x-ray, checkweighing, and other end-of-line product inspection systems used in production and packaging. We supply automatic identification and data capture solutions, which integrate in-motion weighing, dimensioning, and identification technologies for transport, shipping, and logistics customers.”

Annual report 2025A · The company itself

“Product Inspection Increasing safety and consumer protection requirements are driving the need for more sophisticated end-of-line product inspection systems (e.g., for use in food processing and packaging, pharmaceutical, packaged consumer goods, and other industries). We are a leading global provider of metal detectors, x-ray systems, checkweighers, and camera-based imaging equipment that are used in these industries.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Our products are used extensively in the pharma/biopharmaceutical, food manufacturing, and chemical industries.”

Annual report 2025A · The company itself

“For instance, it is expected that laws and regulations around the use of AI and machine learning tools will increase over the next few years, but it is unknown at this time what these laws and regulations will address and how and whether they will be adopted globally. As we introduce AI and machine learning into our technology platform (as well as those of our customers through provision of our services), we could become subject to these new regulations, which may be difficult to comply with.”

Annual report 2025A · The company itself

“In addition, our competitors are expected to continue to improve their technology infrastructure, as well as the technology services offered to their customers, including the use of AI and machine learning solutions, to interact with suppliers, sell their products and services, and support and grow their customer base.”

Annual report 2025A · The company itself

“Research and Development We continue to invest in product innovation to provide technologically advanced products to our customers for existing and new applications. Over the last three years, we have invested $574 million in research and development ($199 million in 2025, $189 million in 2024, and $185 million in 2023), which is approximately 5% of net sales for each year.”

Annual report 2025A · The company itself

“We devote a substantial proportion of our research and development budget to software development. This includes software to process the signals captured by the sensors of our instruments, application-specific software, and software that connects our solutions into customers’ existing IT systems.”

Annual report 2025A · The company itself

“We continue to invest in global market trends around automation and digitalization, as well as technologies related to artificial intelligence (AI). We have several initiatives that further strengthen our capabilities to serve customers, and we continue to advance the digital capability of our products and software to provide additional insights and productivity improvements to our customers throughout their value chains.”

Annual report 2025A · The company itself

“In addition, we offer weighing solutions for fast-growing areas like self-checkout and unmanned stores, as well as AI-driven image recognition solutions for fresh goods.”

Annual report 2025A · The company itself

“Research and Development We continue to invest in product innovation to provide technologically advanced products to our customers for existing and new applications. Over the last three years, we have invested $574 million in research and development ($199 million in 2025, $189 million in 2024, and $185 million in 2023), which is approximately 5% of net sales for each year.”

Annual report 2025A · The company itself

“We devote a substantial proportion of our research and development budget to software development. This includes software to process the signals captured by the sensors of our instruments, application-specific software, and software that connects our solutions into customers’ existing IT systems.”

Annual report 2025A · The company itself

“We have also been implementing our Blue Ocean program to globalize our business processes and information technology systems that includes the implementation of a Company-wide enterprise resource planning system. This has been proceeding on a staggered basis over a multi-year period. We estimate that we have more than 95% of our users on the program and will continue to implement additional locations and functionality over the coming years.”

Annual report 2025A · The company itself

“We continue to invest in global market trends around automation and digitalization, as well as technologies related to artificial intelligence (AI). We have several initiatives that further strengthen our capabilities to serve customers, and we continue to advance the digital capability of our products and software to provide additional insights and productivity improvements to our customers throughout their value chains.”

Annual report 2025A · The company itself

“Laboratory Software LabX, our laboratory software platform, manages and analyzes data generated by our balances, titrators, pH meters, physical value analyzers, and other analytical instruments like UV/VIS spectrophotometers. LabX provides full network capability; assists with workflow automation; has efficient, intuitive protocols; and enables customers to collect and archive data in compliance with the U.S. Food and Drug Administration’s traceability and data integrity requirements for electronically stored data (also known as 21 CFR Part 11).”

Annual report 2025A · The company itself

“Service Our service business continues to be successful with a focus on providing uptime and calibration services, as well as further expanding our offerings to provide value-added services for a range of market needs, including regulatory compliance, performance enhancements, application expertise and training, and remote services. We have a unique offering to our pharmaceutical customers in promoting the use of our instruments in compliance with FDA and other international regulations, and we can provide these services to most customers’ locations around the world.”

Annual report 2025A · The company itself

“Laboratory balances are primarily used 4 Table of Contents in the pharmaceutical, biotechnology, testing lab, food, chemical, cosmetics, academia, and other industries.”

Annual report 2025A · The company itself

“Our principal end-markets are pharmaceutical, biotech, and academia.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Industrial Instruments We manufacture numerous industrial weighing instruments and related terminals and offer dedicated software solutions for the pharmaceutical, chemical, food, discrete manufacturing, and other industries.”

Annual report 2025A · The company itself

“Product Inspection Increasing safety and consumer protection requirements are driving the need for more sophisticated end-of-line product inspection systems (e.g., for use in food processing and packaging, pharmaceutical, packaged consumer goods, and other industries). We are a leading global provider of metal detectors, x-ray systems, checkweighers, and camera-based imaging equipment that are used in these industries.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Laboratory balances are primarily used 4 Table of Contents in the pharmaceutical, biotechnology, testing lab, food, chemical, cosmetics, academia, and other industries.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Industrial Instruments We manufacture numerous industrial weighing instruments and related terminals and offer dedicated software solutions for the pharmaceutical, chemical, food, discrete manufacturing, and other industries.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Our products are used extensively in the pharma/biopharmaceutical, food manufacturing, and chemical industries.”

Annual report 2025A · The company itself

“Table of Contents Estimating the impact of ongoing global conflicts on supply chain disruptions and energy shortages is challenging. The Ukraine invasion and Middle East conflict could negatively affect our financial results and pose risks to our business.”

Annual report 2025A · The company itself

“Transportation and Logistics We supply automatic dimensional measurement and data capture solutions, which integrate in-motion weighing, dimensioning, and identification technologies. With these solutions, customers can measure the weight and cubic volume of packages for appropriate billing, load management, and quality control. Our solutions also integrate into customers’ information systems.”

Annual report 2025A · The company itself

“We supply automatic identification and data capture solutions, which integrate in-motion weighing, dimensioning, and identification technologies for transport, shipping, and logistics customers.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Laboratory Instruments We make a wide variety of precision laboratory instruments for sample preparation, synthesis, analytical bench top, material characterization, and in-line measurement. Our portfolio includes laboratory balances, liquid pipetting solutions, automated laboratory reactors including real-time analytics, titrators, pH meters, process analytics sensors and analyzer technology, physical value analyzers including density and refractometry instruments, thermal analysis systems, and other analytical instruments such as UV/VIS spectrophotometers, moisture analyzers, and cell counters. Our laboratory instruments have leading-edge embedded software and we also offer LabX, our laboratory software platform to manage and analyze data generated by our instruments and automate workflows.”

Annual report 2025A · The company itself

“Pipettes Pipettes are used in life science research laboratories for dispensing small volumes of liquids. We develop, manufacture, and distribute advanced pipettes, including single- and multi-channel manual and electronic pipettes. We also develop and produce high-value consumables such as pipette tips.”

Annual report 2025A · The company itself

“Automated Chemistry Solutions Our automated chemistry solutions focus on select applications in the chemical and drug discovery process. Our automated lab reactors and in situ analysis systems are considered integral to the process development and scale-up activities of our customers. Our on-line measurement technologies, based on infrared and laser light scattering, enable customers to monitor chemical reactions and crystallization processes in real time in the lab and plant.”

Annual report 2025A · The company itself

“Research and Development We continue to invest in product innovation to provide technologically advanced products to our customers for existing and new applications. Over the last three years, we have invested $574 million in research and development ($199 million in 2025, $189 million in 2024, and $185 million in 2023), which is approximately 5% of net sales for each year.”

Annual report 2025A · The company itself

“We continue to invest in global market trends around automation and digitalization, as well as technologies related to artificial intelligence (AI). We have several initiatives that further strengthen our capabilities to serve customers, and we continue to advance the digital capability of our products and software to provide additional insights and productivity improvements to our customers throughout their value chains.”

Annual report 2025A · The company itself

“Our principal end-markets are pharmaceutical, biotech, and academia.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Industrial Instruments We manufacture numerous industrial weighing instruments and related terminals and offer dedicated software solutions for the pharmaceutical, chemical, food, discrete manufacturing, and other industries.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Retail Weighing Solutions Supermarkets, hypermarkets, and other food retail businesses make use of multiple weighing and food labeling solutions for handling fresh goods (such as meats, vegetables, fruits, or cheeses). We offer weighing and software solutions, which can integrate counter, self-service, backroom, and checkout functions and can incorporate fresh goods item data into a supermarket’s overall food item and inventory management system. In addition, we offer weighing solutions for fast-growing areas like self-checkout and unmanned stores, as well as AI-driven image recognition solutions for fresh goods.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“The EU Council has been working to expand renewable energy use, reduce consumption, and diversify energy sources due to reduced Russian energy supplies as a result of the war between Ukraine and Russia. This may impact energy availability and costs in Europe and could impact our European manufacturing operations and demand for our products in Europe.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Intelligent sensor diagnostics capabilities enable improved asset management solutions for our customers to reduce process downtime and maintenance costs. Our instruments offer leading multi-parameter capabilities and plant-wide control system integration, which are key for integrated measurement of multiple parameters to secure production quality and efficiency.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“Economic uncertainty and challenging market conditions in many parts of the world, including international trade disputes, tariffs, inflation, governmental monetary policies, interest rates, armed conflicts, and sovereign debt levels in the European Union and the United States, are situations that we monitor closely.”

Annual report 2025A · The company itself

“In recent years, geopolitical tensions have increased, particularly between the United States and China. Among other issues, these geopolitical topics have resulted in increased tariffs and trade restrictions.”

Annual report 2025A · The company itself

“Failure to comply with any regulations and sanctions could result in civil and criminal actions, monetary and non-monetary penalties, disruptions to our business, limitations on our ability to import and export products and services, and damage to our reputation.”

Annual report 2025A · The company itself

“Prices have been affected by recently imposed tariffs and, if we cannot continue to pass the increased costs of tariffs to our customers, our margins could be impacted as we work to remain competitive.”

Annual report 2025A · The company itself

“Recent rates of inflation also led to increased interest rates as country monetary policies combat inflation, which resulted in reduced economic growth and recessionary conditions, as well as higher borrowing costs. Even though inflation has generally moderated, it continues to be elevated in certain jurisdictions and could prove to be persistent as a result of new tariffs imposed by the U.S. and other countries.”

Annual report 2025A · The company itself

“In addition, foreign governments, including 22 Table of Contents China, have enacted domestic purchasing requirements favoring local competition, which could reduce our sales.”

Annual report 2025A · The company itself

“The adoption and expansion of trade restrictions or other governmental action related to tariffs or trade agreements or policies could also lead to an economic downturn, increased inflation, and/or could create unfavorable fluctuations in currency exchange rates (see above description "Currency fluctuations affect our operating profits."). In times of uncertainty, some customers delay investments or defer normal replacement cycles, which has an adverse impact on our sales.”

Annual report 2025A · The company itself

“In 2025, the U.S. government enacted incremental tariff rates on imports from several foreign countries, which remain subject to negotiation and change, and the Chinese government implemented retaliatory tariffs resulting in incremental tariff costs of approximately $50 million in 2025. Accordingly, tariffs have raised the cost of our products, components, and raw materials, negatively impacting our gross margin.”

Annual report 2025A · The company itself

“After benefiting from significant growth in 2022 and 2021, market demand in China declined significantly during the second half of 2023, which continued in 2024. Our business is significantly impacted by market demand in our core segments of pharma/biopharmaceutical, food manufacturing, and chemical.”

Annual report 2025A · The company itself

“Manufacturing We are a worldwide manufacturer, with facilities principally located in China, Switzerland, the United States, Germany, the United Kingdom, and Mexico.”

Annual report 2025A · The company itself

“We are subject to risks associated with our international operations, including our significant concentration of business in China. We conduct business in many countries, including emerging markets in Asia, Latin America, and Eastern Europe, and these operations represent a significant portion of our sales and earnings.”

Annual report 2025A · The company itself

“China represents a significant portion of our business and financial results and has an important role in our global supply chain. For example, our Chinese operations accounted for 16% of sales to external customers, 29% of total segment profit, and approximately 29% of our global production during 2025.”

Annual report 2025A · The company itself

“We have key manufacturing facilities located in China, Europe, and the United States.”

Annual report 2025A · The company itself

“Email: adam.uhlman@mt.com 13 Table of Contents Item 1A.Risk Factors Factors Affecting Our Future Operating Results Operational Risks We sell primarily to companies in developed countries. An economic downturn in these countries could hurt our operating results.”

Annual report 2025A · The company itself

“Economic downturns or recessions adversely affect our operating results because our customers often decrease or delay capital expenditures.”

Annual report 2025A · The company itself

“We recently experienced reduced demand in these segments, which negatively impacted our net sales over the past few years. Market demand in pharma/biopharmaceutical was particularly impacted in 2023 after significant growth during the COVID-19 pandemic.”

Annual report 2025A · The company itself

“Economic uncertainty and challenging market conditions in many parts of the world, including international trade disputes, tariffs, inflation, governmental monetary policies, interest rates, armed conflicts, and sovereign debt levels in the European Union and the United States, are situations that we monitor closely.”

Annual report 2025A · The company itself

“In recent years, geopolitical tensions have increased, particularly between the United States and China. Among other issues, these geopolitical topics have resulted in increased tariffs and trade restrictions.”

Annual report 2025A · The company itself

“Ongoing conflicts may impact demand locally and globally while disrupting supply chains, increasing costs, and reducing shipping capacity, all of which could affect our financial results and customer demand. Escalating global conflicts, including in Ukraine and the Middle East, have heightened economic and geopolitical uncertainty.”

Annual report 2025A · The company itself

“Economic uncertainty and challenging market conditions in many parts of the world, including international trade disputes, tariffs, inflation, governmental monetary policies, interest rates, armed conflicts, and sovereign debt levels in the European Union and the United States, are situations that we monitor closely.”

Annual report 2025A · The company itself

“Inflation can impact our operating results and the global economy. Inflation affects the costs of goods and services that we use, including raw materials to manufacture our products, as well as transportation and logistical costs and other external costs and services. Inflation also affects labor costs, which are a significant element of our overall cost structure.”

Annual report 2025A · The company itself

“Recent rates of inflation also led to increased interest rates as country monetary policies combat inflation, which resulted in reduced economic growth and recessionary conditions, as well as higher borrowing costs. Even though inflation has generally moderated, it continues to be elevated in certain jurisdictions and could prove to be persistent as a result of new tariffs imposed by the U.S. and other countries.”

Annual report 2025A · The company itself

“Our business and financial performance may be adversely affected by a cybersecurity attack. We rely on our technology infrastructure to interact with suppliers, sell our products and services, fulfill orders, support our customers, and bill, collect, and make payments.”

Annual report 2025A · The company itself

“We are vulnerable to system failures and data loss risks, which could harm our business. We rely on our technology infrastructure to interact with suppliers, sell our products and services, support our customers, fulfill orders, and bill, collect, and make payments. Our systems are vulnerable to damage or interruption from natural disasters, power loss, telecommunication failures, malicious employees or employee negligence, computer viruses, and other events.”

Annual report 2025A · The company itself

“Customers may use our products and/or software to generate or manage critical information. Though we take steps to ensure our products and/or software are secure, it is possible that a cyber attack could result in the loss or compromise of critical information. If a customer alleges that a cyber attack causes or contributes to a loss or compromise of critical information, whether or not caused by us, we could face harm to our reputation and financial condition.”

Annual report 2025A · The company itself

“In addition, regulatory or legislative action related to cybersecurity, privacy, and data protection worldwide, such as the European General Data Protection Regulation, increases the costs to develop, implement, or secure our products or services. We expect cybersecurity regulations to continue to evolve and be costly to implement. If we violate or fail to comply with such regulatory or legislative requirements, we could be fined or otherwise sanctioned, and such fines or penalties could have a material adverse effect on our business and operations.”

Annual report 2025A · The company itself

“Our earnings are affected by changing exchange rates. We are particularly sensitive to changes in the exchange rates between the Swiss franc, euro, Chinese renminbi, and U.S. dollar.”

Annual report 2025A · The company itself

“When the Swiss franc strengthens against our other trading currencies, particularly the U.S. dollar and euro, our earnings go down.”

Annual report 2025A · The company itself

“For instance, it is expected that laws and regulations around the use of AI and machine learning tools will increase over the next few years, but it is unknown at this time what these laws and regulations will address and how and whether they will be adopted globally. As we introduce AI and machine learning into our technology platform (as well as those of our customers through provision of our services), we could become subject to these new regulations, which may be difficult to comply with.”

Annual report 2025A · The company itself

“We are subject to various environmental laws and regulations and incur expenditures in complying with environmental laws and regulations. For instance, federal, international, state, and local regulatory and legislative bodies are increasingly focused on combating and/or limiting the effects of climate change 23 Table of Contents through a variety of means, including regulating greenhouse gas (GHG) emissions, implementing policies mandating or promoting the use of renewable or zero-carbon energy and sustainability initiatives, and additional taxes on fuel and energy.”

Annual report 2025A · The company itself

“We are subject to various environmental laws and regulations and incur expenditures in complying with environmental laws and regulations. For instance, federal, international, state, and local regulatory and legislative bodies are increasingly focused on combating and/or limiting the effects of climate change 23 Table of Contents through a variety of means, including regulating greenhouse gas (GHG) emissions, implementing policies mandating or promoting the use of renewable or zero-carbon energy and sustainability initiatives, and additional taxes on fuel and energy.”

Annual report 2025A · The company itself

“Changes in governmental regulations, such as policies reducing drug pricing like Most Favored Nation pricing, or a decline in government funding of research or education could reduce some customers’ ability to purchase our products.”

Annual report 2025A · The company itself

“Table of Contents Estimating the impact of ongoing global conflicts on supply chain disruptions and energy shortages is challenging. The Ukraine invasion and Middle East conflict could negatively affect our financial results and pose risks to our business.”

Annual report 2025A · The company itself

“The Chinese economy remains under pressure and is impacted by challenges with the country's real estate market that affects domestic consumption and has historically been a source of funds for government stimulus.”

Annual report 2025A · The company itself

“Economic uncertainty and challenging market conditions in many parts of the world, including international trade disputes, tariffs, inflation, governmental monetary policies, interest rates, armed conflicts, and sovereign debt levels in the European Union and the United States, are situations that we monitor closely.”

Annual report 2025A · The company itself

“Approximately 9,500 employees are represented by collective bargaining or another arrangement organized to represent employee interests.”

Annual report 2025A · The company itself

“The EU Council has been working to expand renewable energy use, reduce consumption, and diversify energy sources due to reduced Russian energy supplies as a result of the war between Ukraine and Russia. This may impact energy availability and costs in Europe and could impact our European manufacturing operations and demand for our products in Europe.”

Annual report 2025A · The company itself

“We also have significantly more sales in the euro than we do expenses. When the euro weakens against the U.S. dollar and Swiss franc, our earnings also go down.”

Annual report 2025A · The company itself

“When outside manufacturing is more efficient, we contract with other manufacturers for certain non-proprietary components. We use a wide range of suppliers.”

Annual report 2025A · The company itself

“Changes in governmental regulations, such as policies reducing drug pricing like Most Favored Nation pricing, or a decline in government funding of research or education could reduce some customers’ ability to purchase our products.”

Annual report 2025A · The company itself

“We are subject to risks associated with our international operations, including our significant concentration of business in China. We conduct business in many countries, including emerging markets in Asia, Latin America, and Eastern Europe, and these operations represent a significant portion of our sales and earnings.”

Annual report 2025A · The company itself

“Our business is geographically diversified, with net sales in 2025 derived 42% from North and South America, 29% from Europe, and 29% from Asia and other countries.”

Annual report 2025A · The company itself

“Historically, we also have experienced higher inflation in China, Eastern Europe, India, and Brazil.”

Annual report 2025A · The company itself

“Our business is geographically diversified, with net sales in 2025 derived 42% from North and South America, 29% from Europe, and 29% from Asia and other countries.”

Annual report 2025A · The company itself

“We have key manufacturing facilities located in China, Europe, and the United States.”

Annual report 2025A · The company itself

“Our business is geographically diversified, with net sales in 2025 derived 42% from North and South America, 29% from Europe, and 29% from Asia and other countries.”

Annual report 2025A · The company itself

“We have key manufacturing facilities located in China, Europe, and the United States.”

Annual report 2025A · The company itself