Bio-Rad Laboratories: Leading & Advanced Life Science Diagnostics

Bio-Rad Laboratories: A Global Leader in Life Science Research and Clinical Diagnostics

Bio-Rad Laboratories stands as a prominent global leader in the development, manufacturing, and marketing of innovative products for life science research and clinical diagnostic markets. With a rich history spanning over seven decades, the company has established itself as a trusted provider of cutting-edge solutions that accelerate scientific discovery and improve healthcare outcomes worldwide.

Company History and Evolution

Founding and Early Development

Bio-Rad Laboratories was founded in 1952 by David and Alice Schwartz, both recent graduates of the University of California, Berkeley. The company began operations in a modest 1,600-square-foot Quonset hut in Berkeley, California, offering life science products and services designed to identify, separate, purify, and analyze chemical and biological materials.

The company achieved several important milestones in its early years:

• 1957: Bio-Rad became officially incorporated
• 1964: Introduction of Bio-Gel® P gel chromatography media for separating proteins by molecular weight
• 1966: Bio-Rad held its Initial Public Offering, selling 40,000 shares at $3.50 each
• 1967: Entry into the clinical diagnostics market with the T4 (thyroxine) thyroid function test

Expansion and Growth

Throughout the 1970s and 1980s, Bio-Rad continued to expand its product portfolio and global footprint:

• 1976: Acquisition of Environmental Chemical Specialties (ECS), a producer of human control serum
• 1980: Listing on the American Stock Exchange
• 1981: Introduction of Macro-Prep® ion exchange resin for large-scale protein purification and debut of the current company logo
• 1982: Launch of a hemoglobin A1c test for diabetes monitoring
• 1986: Opening of first offices in Hercules, California, which would later become the company’s headquarters

In 2003, Norman Schwartz became president and CEO as David Schwartz stepped down from these roles, though David remained as Chairman of the Board until his passing in 2012 at the age of 88.

Core Business Segments

Bio-Rad operates through two major business segments, each serving distinct markets but aligned with the company’s overall mission of advancing scientific discovery and improving clinical outcomes.

Life Science Group

The Life Science Group develops, manufactures, and provides a wide range of laboratory instruments, apparatus, consumables, and reagents for research in functional genomics, proteomics, drug discovery, cell biology, food safety, and science education. This segment ranks among the top five life science companies worldwide and is known for quality, innovation, and customer focus.

Key technologies and applications include:

• Electrophoresis and imaging
• Multiplex immunoassay
• Chromatography
• Microbiology and bioinformatics
• Protein function analysis
• Transfection and flow cytometry
• PCR technologies including digital PCR

In 2024, the Life Science segment reported net sales of $1,028.1 million, representing a decrease of 12.6 percent compared to the prior year on a currency-neutral basis, primarily due to ongoing weakness in the biotech and biopharma end-markets.

Clinical Diagnostics Group

The Clinical Diagnostics Group develops, manufactures, sells, and supports a large portfolio of products for medical screening and diagnostics. Bio-Rad is recognized as a leading specialty diagnostics company with products that are considered the gold standard for diabetes monitoring and quality control systems.

The group is also well-known for:

• Blood virus testing and detection
• Blood typing
• Autoimmune and genetic disorders testing
• Internet-based software products

In 2024, the Clinical Diagnostics segment reported net sales of $1,537.9 million, an increase of 3.7 percent compared to the prior year on a currency-neutral basis, driven by increased demand for quality control and blood typing products.

Product Portfolio

Bio-Rad offers a comprehensive range of products across multiple categories, addressing the diverse needs of researchers, healthcare professionals, and laboratory technicians worldwide.

Life Science Products

Bio-Rad’s life science portfolio includes cutting-edge products designed to advance research across various fields:

Chromatography

Complete line of chromatography products including resins, media, columns, systems, and standards for protein separation and purification.

Droplet Digital™ PCR

Advanced technology that goes beyond traditional qPCR, offering precision and ultra-sensitivity for absolute quantification of nucleic acids.

Flow Cytometry Antibodies

Extensive inventory of ready-made primary and secondary antibodies, controls, and reagents, along with custom project capabilities including monoclonal generation.

Clinical Diagnostic Products

The clinical diagnostics portfolio focuses on accurate, consistent, and quick sample analysis across multiple applications:

Autoimmune Testing

Reliable results provided through IFA, EIA, and multiplex products, covering a wide array of tests for enhanced autoimmune disease diagnosis.

Diabetes Testing

Gold standard, NGSP-certified HPLC Testing Systems for confident reporting of HbA1c results in diabetes monitoring.

Infectious Disease Testing

High-performance assays and comprehensive systems for reliable detection of diseases like HIV, HCV, HBV, and syphilis.

Blood Typing and Screening

Versatile testing platform solutions that can be connected and networked within laboratory environments for effective control and management of transfusion medicine processes.

Quality Control Products

Bio-Rad’s quality control offerings help clinical diagnostics laboratories obtain precise and accurate results with every run:

InteliQ Load-and-Go Quality Controls

Automated QC workflow solutions with load-and-go efficiency and robust data management capabilities.

Cardiac Advance Controls

Monitoring tools for the precision of cardiac assessment assays used in risk assessment, diagnosis, and monitoring of acute coronary syndrome and other conditions.

Molecular Quality Controls

Advanced solutions that help drive efficiency, confidence, and better patient care in molecular diagnostics.

Food & Beverage Testing Products

Bio-Rad offers specialized testing solutions for ensuring food and beverage safety:

Food & Beverage Safety Testing

Products to improve food safety and risk management by minimizing time and cost of microbiological and molecular food testing.

Cannabis Testing

Efficient screening tools for Aspergillus, Salmonella, and STEC in cannabis products to ensure consumer safety.

Water Quality Testing

Specialized kits and systems for detecting and enumerating quality indicators and pathogenic bacteria in water.

Financial Performance and Market Position

Recent Financial Results

For the full year 2024, Bio-Rad reported total net sales of $2,566.5 million, showing the company’s substantial market presence despite challenging conditions:

• Gross margin was 53.7 percent, compared to 53.4 percent in 2023
• Income from operations was $269.0 million versus $337.8 million in 2023
• The effective tax rate for 2024 was 21.3 percent compared to 25.0 percent in 2023

For the fourth quarter of 2024, Bio-Rad reported:

• Total net sales of $667.5 million, a decrease of 2.0 percent compared to $681.2 million reported for the fourth quarter of 2023

• GAAP gross margin of 51.2%, compared to 53.8% in Q4 2023

• Non-GAAP gross margin of 53.9%, compared to 54.4% in Q4 2023

Corporate Strategy

Norman Schwartz, Bio-Rad’s Chairman and Chief Executive Officer, noted the company’s resilience and adaptability in 2024, highlighting that while biopharma headwinds affected Life Science segment results, the Clinical Diagnostics business returned to a more normalized growth rate. He emphasized that ongoing transformation initiatives and diligent cost management helped improve gross margins.
Looking ahead to 2025, Schwartz stated: “We begin 2025 in a strong position and remain committed to advancing our transformation, margin expansion, commercial excellence, and long-term shareholder value creation. The anticipated acquisition of digital PCR developer Stilla Technologies furthers our planned transformation as it would support our customers’ increasingly diverse range of research and clinical diagnostic applications.”

Corporate Sustainability Initiatives

Bio-Rad has demonstrated commitment to environmental, social, and governance (ESG) principles through its sustainability efforts. In 2022, the company expanded its corporate sustainability reporting and disclosures in alignment with SASB guidelines.

Environmental Impact

Key environmental achievements in 2022 included:

• Sourcing over 10% of all electricity consumed by U.S. operations from on-site renewables, an 8% increase compared to fiscal year 2021
• Increasing on-site renewable energy generation in the U.S. by approximately 3 million kWh compared to 2021
• Decreasing total Scope 2 emissions by 3% year-over-year

Social Responsibility

Bio-Rad has also focused on diversity and inclusion:

• Expanded proportion of underrepresented employees by 1% to 51% of U.S. workforce in 2022
• Launched a recruiting program in the U.S. focused on Historically Black Colleges and Universities

Supply Chain Management

The company initiated a global labeling and packaging program to manage sustainable packaging projects and began tracking supplier-related spend with small businesses, which accounted for 23% of total supply expenditures in 2022.

Challenges and Future Outlook

Industry Challenges

The biotech sector has faced significant headwinds in recent years, impacting companies like Bio-Rad. According to discussions on industry forums, many biotech professionals have noted that the past couple of years have been somewhat disheartening for the biotech sector. Factors contributing to these challenges include:

• Higher interest rates making biotech investments less appealing compared to lower-risk options
• Freezes in NIH funding impacting research capabilities
• Evolving risk landscape in areas like gene editing and gene therapies

Recent Organizational Changes

In February 2025, Bio-Rad executed significant layoffs affecting hundreds of employees. According to reports, approximately 5% of employees were impacted, with an estimated 382 individuals affected overall, including 131 people in California. The layoffs reportedly primarily affected long-term employees and office or administrative centered positions.

Market Opportunities

Despite these challenges, Bio-Rad continues to position itself for future growth through strategic initiatives:

• Digital PCR expansion: The anticipated acquisition of Stilla Technologies is expected to enhance Bio-Rad’s capabilities in digital PCR and support customers’ increasingly diverse research and clinical diagnostic applications.
• Clinical diagnostics strength: The company’s Clinical Diagnostics segment has shown resilience with increased demand for quality control and blood typing products.

• Transformation initiatives: Ongoing efforts focused on margin expansion, commercial excellence, and long-term shareholder value creation.

Bio-Rad Laboratories has established itself as a cornerstone in the life science research and clinical diagnostics markets over its seven decades of operation. From its humble beginnings in a Quonset hut in Berkeley to its current position as a global leader, the company has consistently focused on innovation, quality, and customer success.

While facing industry-wide challenges, Bio-Rad continues to demonstrate resilience through its diverse product portfolio, strategic transformation initiatives, and commitment to sustainability. As the company moves forward, its focus on advancing technologies like digital PCR and strengthening its clinical diagnostics offerings positions it to continue making significant contributions to scientific discovery and healthcare improvements worldwide.