DRUG DEVELOPMENT INSTRUMENTS

Mettler-Toledo beats quarterly profit estimates on strong demand for its lab instruments

The Columbus, Ohio-based company reported third-quarter revenue of $954.54 million, beating estimates of $944.74 million, as per data compiled by LSEG. Lifesciences firms, including Mettler-Toledo, have seen sluggish demand for their instruments used in drug development due to decreased spending in the biotech sector and weak demand from China, a key region for drug development.