Daniel Brennan's questions to Thermo Fisher Scientific Inc (TMO) leadership • Q3 2024
Question
Daniel Brennan questioned why positive pharma R&D spending trends aren't translating into stronger growth for the tools industry. He also asked if Thermo Fisher is seeing a pause in instrument spending in China ahead of stimulus programs and what the expected impact of that stimulus will be.
Answer
CEO Marc Casper clarified that overall growth is muted by headwinds in production-related areas like bioproduction, not just R&D, but he remains confident in long-term prospects. Regarding China, he noted that customers are actively applying for stimulus funds and expects the impact to materialize primarily in 2025. He reiterated that Thermo Fisher is incredibly well-positioned in the country for when the economy improves.