Thermo Fisher Scientific Archives - Page 2 of 2

Thermo Fisher Scientific beats The Street in Q2 results

Thermo Fisher Scientific (NYSE:TMO) today posted second-quarter results that beat the overall consensus on Wall Street.

The Waltham, Mass.-based company reported profits of $1.8 billion, or $4.61 per share, on sales of $9.3 billion for the three months ended July 1, 2021, for a bottom-line gain of 58.1% on sales growth of 34.1% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were $5.60, 11¢ ahead of The Street, where analysts were looking for sales of $8.8 billion.

“Our team delivered an incredibly strong second quarter, building on our excellent start to the year. The strength of our base business reflects our proven growth strategy, and we continue to enable the societal response to the pandemic, which allowed us to deliver exceptional performance in revenue, earnings and free cash flow for the quarter,” president and CEO Marc Casper said in a news release. “We extended our leading innovation track record…

Thermo Fisher Scientific expands corporate leadership team

Thermo Fisher Scientific (NYSE:TMO) announced today that it appointed Alan Sachs to chief medical officer and Karen E. Nelson to chief scientific officer.

Sachs served as Waltham, Mass.-based Thermo Fisher’s CSO since 2016 and will be succeeded by Nelson as he assumes the newly established CMO position at the company. Both will join the company’s leadership team in August.

Get the full story at our sister site, Drug Delivery Business News.

Thermo Fisher Scientific expands corporate leadership team

Thermo Fisher Scientific (NYSE:TMO) announced today that it appointed Alan Sachs to chief medical officer and Karen E. Nelson to chief scientific officer.

Sachs served as Waltham, Mass.-based Thermo Fisher’s CSO since 2016 and will be succeeded by Nelson as he assumes the newly established CMO position at the company. Both will join the company’s leadership team in August.

Get the full story at our sister site, Drug Delivery Business News.

Thermo Fisher to buy PPD for $17B

Thermo Fisher Scientific (NYSE:TMO) announced today that it agreed to acquire PPD (NSDQ:PPD) for $17.4 billion.

The boards of directors for both companies approved the definitive agreement which will see Thermo Fisher buy PPD at a price of $47.50 per share, totaling the $17.4 billion, plus the assumption of approximately $3.5 billion of net debt, according to a news release. That represents a premium of approximately 24% to the unaffected closing price of PPD’s common stock as of Tuesday, April 13, 2021.

Wilmington, N.C.-based PPD offers clinical research and laboratory services to enable customers to accelerate innovation and increase drug development productivity. The company has more than 26,000 colleagues operating across 50 countries and it produced revenue of $4.7 billion in 2020. It will become a part of Thermo Fisher’s laboratory products and services business segment.

Waltham, Mass.-based Thermo Fisher expects the transaction to be i…

Thermo Fisher launches device that can detect COVID-19 in the air

The Thermo Scientific AerosolSense Sampler [Image courtesy of Thermo Fisher Scientific]

Thermo Fisher Scientific (NYSE:TMO) today announced the launch of its toaster-oven-sized Thermo Scientific AerosolSense Sampler, which can help detect airborne pathogens including the virus that causes COVID-19.

The AerosolSense Sampler collects representative aerosol samples of ambient air and traps in-air pathogens on a collection substrate. The sample can be readily analyzed through subsequent laboratory testing using polymerase chain reaction (PCR) methodology. The extra information can help leaders at hospitals and other indoor facilities better take actions to protect people — and boost confidence that particular spaces are safe.

“Such factors as emerging variants, semi-vaccinated populations and varying levels of compliance with COVID-19 personal safety protocols, continue to pose risks to a society looki…

Thermo Fisher Scientific to spend $600M to boost bioprocessing production capabilities

Thermo Fisher Scientific (NYSE:TMO) will spend more than $600 million to expand its bioprocessing production capabilities through 2022, the Waltham, Mass.–based company said today.

Investments will more than double Thermo Fisher’s manufacturing capacity so that it can better support biopharma customers ramping up to meet not only short-term demands related to COVID-19 but also long-term efforts to develop new vaccines and biologics for other conditions. The company expects the expansion to create more than 1,500 new jobs across 11 manufacturing sites in the Americas, Europe and Asia.

“As the bioprocessing market grows, our customers require a consistent and reliable supply of critical materials. Single-use technologies, cell culture media and purification resins are among those in highest demand,” Thermo Fisher Scientific EVP Michel Lagarde said in a news release.

“These investments add significant capacity and regional redundancy…

Thermo Fisher Scientific acquires Propel Labs and its cell sorting tech

Thermo Fisher Scientific (NYSE:TMO) announced today that it acquired cell sorting technology assets from SIDIS Corp. subsidiary Propel Labs.

Waltham, Mass.-based Thermo Fisher’s agreement with Propel Labs stipulates that the recently introduced Bigfoot spectral cell sorter and approximately 40 employees will become part of Thermo Fisher’s biosciences business unit, while Propel Labs will continue to operate as a separate entity with its remaining assets, according to a news release.

The Bigfoot spectral cell sorter is designed to accelerate soring up to 10 times faster than other available technologies can while maintaining cell viability and offering improved ease of use. Additionally, the technology has an integrated Class II biocontainment system to eliminate the need for separate biosafety cabinets.

Thermo Fisher said that the new technology offers more opportunities to study more cell populations from samples of limited quantity to enabl…

Corza Medical set to take on “almost monopolistic” surgical giants

Corza Medical, a new venture backed by the financial firepower of private equity giant GTCR, is looking to build a surgical tool supplier that its executive chairman Greg Lucier says can compete with “almost monopolistic” leaders in the space.

To mount the challenge, Corza acquired Surgical Specialties Corp., a supplier of surgical sutures and ophthalmic knives. Corza will use this beachhead in Westwood, Mass., to build a pipeline of acquired assets including TachoSil, a surgical patch product line Corza acquired from Takeda Pharmaceuticals last year.

In an interview with the DeviceTalks Weekly podcast, Lucier, the former CEO of spinal company NuVasive (NSDQ:NUVA) and diagnostic company Life Technologies, said management believes “there is an opening for a pretty good-sized surgical tools and technologies company to compete against the Ethicons and the Medtronics of the world.”

Lucier said the two Goliaths have reached a size that makes them “almost mono…

Q2 Solutions partners with Thermo Fisher Scientific to speed up clinical trial lab results

Thermo Ion Torrent Genexus Sequencer instrument

Q2 Solutions recently announced a partnership with Thermo Fisher Scientific to use the Ion Torrent Genexus System — touted as the first fully integrated, next-generation sequencing (NGS) platform — to quickly and economically deliver clinical trial lab results.

“Clinical trial oncology patients require lab testing before they can receive potential life-saving treatments, which makes lab testing turnaround time critical,” said Q2 Solutions CEO Brian O’Dwyer. “Our efforts in developing assays and tests to identify and target different aspects of diseases are critical to drug discovery for pharma clients. Adding the capabilities of the Ion Torrent Genexus System has the potential to drastically reduce our time to deliver clinical reports to trial sites, thereby enabling patients’ access to investigational drugs faster.”

Q2 Solutions (Morrisville, N.C.) is a…

Thermo Fisher Scientific touts new mass spectrometers

Thermo Fisher Scientific has added two mass spectrometers — the Thermo Scientific Orbitrap Exploris 240 and Thermo Scientific Orbitrap Exploris 120 — to its Thermo Scientific Orbitrap Exploris portfolio.

The Thermo Scientific Orbitrap Exploris 240 mass spectrometer boasts the latest generation of system architecture and instrument control software to boost data acquisition and analysis capabilities for small- and large-molecule applications. The system includes positive/negative mode switching for comprehensive sample coverage, fast scan speeds and functionalities including Thermo Scientific AcquireX intelligent data acquisition workflow for greater automation.

“Scientists are seeking technologies that can streamline and speed proteomics studies to clinical applications, reduce time to market for candidate biotherapeutics and address the growing challenge of characterizing novel chemical entities in small-molecule studies,” said Iain Mylchreest, VP …