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Repligen is a "pick-and-shovel" play in the bioprocessing industry.
Repligen heavily invests in single-use products for use in downstream continuous manufacturing processes, which are two of the latest trend in the bioprocessing industry.
COVID-19 programs accounted for approximately 14% of revenue during the latest quarter and approximately 55% of revenue growth.
Repligen has a lot further upside, in my opinion, and is currently a buy, despite the high valuation.