Rachel Vatnsdal Olson's questions to Thermo Fisher Scientific Inc (TMO) leadership • Q3 2024
Question
Rachel Vatnsdal Olson asked for an update on the PPD clinical research business, including its customer mix and recovery outlook for 2025. She also questioned the softer-than-expected performance in the Life Science Solutions segment, seeking details on its bioproduction and biosciences businesses.
Answer
Marc Casper, Chairman, President and CEO, stated the clinical research business is performing well, with a slightly larger mix of biotech customers who are quick to adopt unified service offerings. Regarding Life Science Solutions, Casper clarified that its performance was in line with internal expectations, attributing the variance from Street models to Q3 having the largest impact from COVID-related revenue runoff. He added that bioproduction is seeing strong order momentum.