• Repligen average price/book ratio for 2023 was 4.6, a 14.34% decline from 2022.
• Repligen average price/book ratio for 2022 was 5.37, a 31.59% decline from 2021.
• Repligen average price/book ratio for 2021 was 7.85, a 28.69% decline from 2020.

Price/book ratio can be defined as