Thermo Fisher Scientific Archives - Page 4 of 4

BREAKING: Thermo Fisher drops bid for Qiagen

Thermo Fisher Scientific (NYSE:TMO) announced today that its offer to acquire Qiagen (NYSE:QGEN) in an $11.5 billion deal has lapsed.

According to a news release, more than 107.5 million shares of Qiagen (47.02% of the issued and outstanding ordinary shares for the company) were validly tendered into the offer by the end of the acceptance period on Aug. 10, leaving the minimum acceptance threshold condition (66.67%) unsatisfied and lapsing the offer.

Thermo Fisher terminated the acquisition agreement and will receive a $95 million cash reimbursement payment from Qiagen in accordance with the agreement.

“Thermo Fisher is a disciplined acquirer with a strong track record of executing value-creating transactions,” Thermo Fisher chairman, president & CEO Marc Casper said in the release. “We remain extremely well-positioned to deliver on our proven growth strategy and continue to generate significant returns for our shareholders.”<…

MedTech 100 roundup: Industry remains on the rise

The medtech industry continues to climb back up in the markets, following a landmark week with another move up toward its pre-COVID-19-pandemic highs.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.29 points at the end of last week (July 24). That total represents just a -3.3% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

On July 22, the index reached 90.11 points, marking its highest point since that pre-pandemic high and the first and only time it has eclipsed 90 points since that day in February.

Medtech stocks saw a 0.44% increase from the 88.9-point total at the same time a week prior (July 17), highlighting a slight improvement after last week saw the industry inch back toward that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a -0.3% decline from July 17 to July 24, and the Dow Jones Index fared slightl…

Thermo Fisher rises on COVID-19 response-driven Q2

Thermo Fisher Scientific (NYSE:TMO) shares got a boost today on second-quarter results that came in well above the consensus forecast.

The Waltham, Mass.-based company posted profits of $1.2 billion, or $2.90 per share, on sales of $6.9 billion for the three months ended June 27, 2020, for a 3.3% bottom-line gain on sales growth of 9.5%.

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

AdvaMed unveils COVID-19 diagnostic supply registry

AdvaMed announced today that it created a comprehensive national COVID-19 diagnostic supply registry to aid state and federal pandemic responses.

According to a news release, AdvaMed is launching the registry in partnership with 13 commercial diagnostics manufacturers: Abbott (NYSE:ABT), Becton Dickinson (NYSE:BDX), bioMérieux, Bio-Rad Laboratories (NYSE:BIO), Beckman Coulter, Cepheid, Hologic (NSDQ:HOLX), Ortho Clinical Diagnostics, Qiagen (NYSE:QGEN), Roche Diagnostics, Sekisui Diagnostics, Siemens Healthineers (ETR: SHL), and Thermo Fisher Scientific (NYSE:TMO).

The AdvaMed registry is designed to compile information from the diagnostic companies, along with public data, to create a centralized and standardized COVID-19 diagnostic supply registry to update on weekly numbers at state and national levels regarding molecular, antigen and serology tests shipped in the U.S.

AdvaMed said in the release that the registry will also help streamline communicati…

MedTech 100 roundup: Industry hits pandemic peak

After five months since medtech stocks peaked before the COVID-19 pandemic rocked the markets, the industry inched back toward that pre-pandemic high.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 88.9 points at the end of last week (July 17). That total represents just a -3.7% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Medtech stocks saw a 5.1% increase from the 84.39-point total at the same time a week prior (July 10), highlighting a large improvement after last week saw almost no material change in the index.

Meanwhile, the S&P 500 Index saw a 1.2% bump from July 10 to July 17, and the Dow Jones Index fared even better, posting a 2.3% increase over the same period of time. Both indexes mirrored the medtech industry’s changes as far as increases, but didn’t see as drastic a change.

Medtech’s lowest point du…

Thermo Fisher boosts offer for Qiagen

Thermo Fisher Scientific (NYSE:TMO) has boosted its per-share offer price for Qiagen (NYSE:QGEN) after some shareholders reportedly balked at the original offer for the sample and assay tech company.

Thermo Fisher Scientific is now offering €43 per QGEN share, up from the previous €39 per share offer, at the same time that the companies have agreed to reduce the minimum acceptance threshold to 66.67% from the previous 75%. The deal remains valued at about $11.5 billion.

Shareholders in recent weeks had questioned the original per share offer, with Hedge Fund Davidson Kempner calling the offer “wholly inadequate,” according to Reuters.

Both companies’ boards have approved the acquisition.

Qiagen in March received an FDA emergency use authorization for a COVID-19 diagnostic test.

Thermo Fisher projects 10% increase in Q2 sales

Thermo Fisher Scientific (NYSE:TMO) announced today that it estimates revenue growth for its recently ended second quarter to total approximately 10%.

Waltham, Mass.-based Thermo Fisher said in a news release that its reported and organic sales growth for the quarter (ended June 27) was primarily driven by global sales of PCR-based tests and other products and services supporting the response to the COVID-19 pandemic.

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