And right now, we now have about $300 million authorized by the board for this function. I suppose the point is that we see all 3 of these as important components of an overall capital allocation technique. During the third quarter, we did dost e bike not buy any shares of our inventory. The adjusted EBITDA for the third quarter of 2022 was $132.three million or 19.4% of gross sales. The adjusted EBITDA in Q3 of 2021 was $165.1 million or 23.1% of gross sales. Non-GAAP R&D expense in the third quarter of 2022 was 10.2% versus 9% in Q3 of 2021.
Now I wish to review the outcomes of the third quarter. Net gross sales for the third quarter of 2022 were $680.8 million, which is an 8.9% decline on a reported basis versus $747 million in Q3 of 2021. We additionally had modestly higher-than-expected demand for COVID-related products, particularly in Asia Pacific. All Discounts Live And Tested.Begin with huge discounts at Beautythings.co.uk – Shop Vita Liberata 20% Off.Just reap the advantages of this provide to avoid wasting cash. Save today with our valid Bio-Rad vouchers.Get nice financial savings if you attain the minimal spend at Bio-Rad.
And that is allowed us to do a quantity of things and make plenty of progress. And again, I think it’s time and situation dependent. Would we move to another type of organization? Again, I think it’s really all facts and circumstances.
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The Diagnostics Group currency-neutral year-over-year improve was primarily driven by quality control, blood typing and infectious disease products. And as I mentioned earlier, provide chain constraints had an influence on instrument placements. Excluding Process Media gross sales and final 12 months’s 10x settlement, the underlying Life Science business declined four.2% on a currency-neutral foundation versus Q3 of 2021 as a result of lower COVID-related sales. When also excluding COVID-related gross sales, income progress was 9.6% on a currency-neutral basis. Core revenue within the Americas was largely flat on account of the availability chain constraints that we have been experiencing in the past year.
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So that also will benefit the logistics price total. And we’re very inspired as a end result of the general order backlog continues to be good, though it’s happening, however clients are still holding up. I thought it would be useful to take a few minutes to deal with the current rumors of a possible transaction with considered one of our friends. So while I’m not going to touch upon the hypothesis.
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Certainly, when we think of all of that, we nonetheless see Sartorius as very strategic — and as you know, there’s still 5 or 6 years left on the trust. So we’ve got slightly little bit of time to wait on that. In this regard, we’ve stable R&D investment ranges within the 9% to 10% range. And we are additionally investing to improve our channel reach and capabilities to allow us to grow in our key targeted markets.