Recent Checks Across Academia, Reshoring, Microbiology and Flow: USA | Life Science Tools & Diagnostics

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Recent Checks Across Academia, Reshoring, Microbiology and Flow: USA | Life Science Tools & Diagnostics

USA | Life Science Tools & Diagnostics EquityJulyResearch13, 2026

Recent Checks Across Academia, Reshoring,

Microbiology and Flow

Over the last week, we checked in with industry contacts across academia, real

estate (reshoring), microbiology and flow cytometry. See key takeaways below.

A&G. We spoke with Michael Reich, Director for Laboratory and Medical Sourcing from Columbia

Medical Center to discuss trends in U.S. academia. Takeaways: 1) delayed orders. NIH funding has

remained available (see latest outlay data here), but NoA flow has been inconsistent since February,

although a pickup in NoAs is expected in 3Q, however, spending will likely lag several weeks as

budgets and procurement processes are finalized; 2) pricing and financing pressures. Late '25

discounting remained aggressive with TMO, BRKR, TXG, QGEN and BDX offering favorable terms

(longer leases, reagent rentals) to win placements, while '26 disposable consumables pricing rose

+2-4%; and 3) spending strengthened q/q. 1Q26 was soft following significant year-end purchasing

but 2Q spending was described as robust (+HSD y/y).

Reshoring. We spoke with JLL's Life Sciences team on pharma reshoring. Takeaways: 1)

commitments outpacing buildouts. While announced U.S. commitments total $550-600B, JLL

estimates only $50B has translated into facility expansion, including just $6-7B of biopharma

manufacturing capacity this year. Still, biomanufacturing leasing demand is at a four-year high,

led by Boston and NC; 2) demand is real. '25 announcements partly communications-driven, but

noted real activity among mid-cap pharma, European biopharma, and CDMOs; and 3) meaningful

capacity additions still years away.