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Bio-Rad Laboratories, Inc.

BIO

Health Care

2

exclusion reasons

1 theme

Animal Welfare (2)
BIO Health Care Current as of March 2026

Bio-Rad Laboratories, Inc. is screened out under 2 exclusion reasons spanning 1 issue category.

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.

Animal Testing & Research
Since Oct 27, 2025

Bio-Rad Laboratories develops, manufactures, and sells a wide range of instruments, test kits, and reagents used in biomedical research and clinical diagnostics. A core segment of its product portfolio includes tools and assays specifically designed for, and marketed to, animal research and preclinical testing applications. This includes instruments like the Biolistic® Particle Delivery System for genetically transforming animal cells, as well as test kits for animal disease screening, such as for BSE and chronic wasting disease. The company is routinely listed alongside major pharmaceutical and contract research organizations in market analyses of the global animal testing and non-animal alternative testing industry, indicating its established role as a supplier to this research chain.

While Bio-Rad's products enable research conducted by other entities, its business model is materially dependent on the animal testing market. The company is explicitly cited by ethical screening sources, such as Cruelty Free Investing, for producing and selling analytical instruments and products for life science research that involves animal use. This positions Bio-Rad as a provider of essential tools for animal testing, even if it does not conduct the tests in its own facilities.

Research Sources 10 organizations

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.