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Thermo Fisher Scientific Inc. is a global leader in serving science, dedicated to enabling customers to make the world healthier, cleaner, and safer . The company operates through four main segments, offering a diverse range of products and services that cater to various end markets, including pharmaceutical and biotech, academic and government, industrial and applied, as well as healthcare and diagnostics . Thermo Fisher's product offerings include reagents, instruments, consumables, diagnostic test kits, and laboratory products, supported by a strong global presence and a comprehensive portfolio .
- Laboratory Products and Biopharma Services - Offers a comprehensive range of laboratory products and outsourced services for drug development, clinical research, and manufacturing.
- Life Sciences Solutions - Provides reagents, instruments, and consumables used in biological and medical research, drug and vaccine discovery and production, and disease diagnosis. Includes sub-segments such as Biosciences, Genetic Sciences, and BioProduction.
- Analytical Instruments - Offers a broad range of instruments and supporting consumables, software, and services for laboratory and field applications, serving markets including pharmaceutical, biotechnology, academic, government, and industrial.
- Specialty Diagnostics - Provides diagnostic test kits, reagents, culture media, and instruments for healthcare, clinical, pharmaceutical, industrial, and food safety laboratories.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Marc N. Casper ExecutiveBoard | Chairman, President, and CEO | Board Member at Synopsys, Inc. | Marc N. Casper has been President and CEO since 2009 and Chairman since 2020. He has led TMO through significant growth and innovation. | View Report → |
Gianluca Pettiti Executive | Executive Vice President | None | Gianluca Pettiti joined TMO in 2015 and has held leadership roles in China, Biosciences, and Specialty Diagnostics. Promoted to EVP in 2021. | |
Joseph R. Holmes Executive | Vice President and Chief Accounting Officer | None | Joseph R. Holmes became Chief Accounting Officer in 2021, previously serving as Senior Director of Technical Accounting. | |
Lisa P. Britt Executive | Senior Vice President and CHRO | None | Lisa P. Britt has been CHRO since 2017, leading HR operations and executive compensation strategies. | |
Michael A. Boxer Executive | Senior Vice President and General Counsel | None | Michael A. Boxer has been General Counsel since 2018, overseeing legal and compliance functions. | |
Michel Lagarde Executive | Executive Vice President and COO | Board Member at Vertex Pharmaceuticals Incorporated | Michel Lagarde joined TMO in 2017 through the Patheon acquisition and became COO in 2022. He has played a key role in Pharma Services integration and growth. | |
Stephen Williamson Executive | Senior Vice President and CFO | None | Stephen Williamson has been CFO since 2015, previously serving as VP of Financial Operations. | |
C. Martin Harris Board | Independent Director | Director at Agiliti, Inc., Colgate-Palmolive Company, and MultiPlan Corporation | C. Martin Harris has been a director since 2012 and is also a Vice President and Chief Business Officer at Dell Medical School, University of Texas at Austin. | |
Debora L. Spar Board | Independent Director | Professor and Senior Associate Dean at Harvard Business School | Debora L. Spar has been a director since 2019, contributing expertise in strategy, technology, and governance from her academic and leadership roles. | |
Dion J. Weisler Board | Independent Director | Director at Intel Corporation and BHP | Dion J. Weisler has been a director since 2017. He is the former CEO of HP Inc. and brings expertise in technology and international business. | |
James C. Mullen Board | Independent Director | None | James C. Mullen has been a director since 2018 and has over 35 years of experience in the pharmaceutical and biotechnology industries. | |
Jennifer M. Johnson Board | Independent Director | President and CEO of Franklin Resources, Inc.; Board Member at Franklin Resources, Inc. | Jennifer M. Johnson joined the board in 2023 and is the CEO of Franklin Templeton, with over 35 years of experience in asset management. | |
Nelson J. Chai Board | Independent Director | None | Nelson J. Chai has been a director since 2010. He previously served as CFO of Uber Technologies Inc. and has extensive financial and strategic leadership experience. | |
R. Alexandra Keith Board | Independent Director | CEO of P&G Beauty; Executive Sponsor for Sustainability at Procter & Gamble | R. Alexandra Keith has been a director since 2020, bringing expertise in sustainability and international business from her leadership roles at Procter & Gamble. | |
Ruby R. Chandy Board | Independent Director | Board Member at DuPont de Nemours Inc., Flowserve Corporation, and Pritzker Private Capital | Ruby R. Chandy joined the board in 2022 and brings expertise in global life sciences, marketing, and strategy. | |
Scott M. Sperling Board | Independent Lead Director | Co-CEO of Thomas H. Lee Partners, LP; Board Member at Agiliti, Inc. | Scott M. Sperling has been a director since 2006 and became Independent Lead Director in 2022. He brings extensive private equity and corporate governance experience. | |
Tyler Jacks Board | Independent Director | President of Break Through Cancer; Director at Amgen Inc. | Tyler Jacks has been a director since 2009. He is a prominent cancer researcher and professor at MIT. |
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Given that core growth has been flat or negative over the past few years, despite maintaining operating margins, how does management plan to achieve the long-term goal of 7% to 9% top-line growth, and when can investors expect this growth to materialize?
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With the recent acquisitions of The Binding Site and OLink, what specific integration challenges are you facing, and when do you anticipate these acquisitions will start significantly contributing to revenue and earnings?
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Considering the muted demand for routine capital equipment and challenges in the Chinese market, how is the company addressing these headwinds, and what strategies are in place to drive growth in these areas?
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The Analytical Instruments segment saw an adjusted operating margin decrease of 180 basis points due to unfavorable mix and strategic investments. When do you expect these investments to start delivering returns, and how will this impact margins in the near term?
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The expansion of capacity in your Pharma Services business is putting pressure on margins due to costs in training and facility qualification. How are you balancing these short-term margin pressures with long-term growth objectives, and when do you expect higher utilization of this capacity to improve profitability?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Olink Holding AB (publ) | 2024 | The acquisition was completed on July 10, 2024 for $26.00 per share (approximately $3.1 billion, net of $96 million cash), and integrated into the Life Sciences Solutions segment to boost proteomics and precision medicine capabilities. The deal recorded significant goodwill of $2.28 billion and definite-lived intangible assets of $0.99 billion, financed via cash on hand and debt issuances. |
CorEvitas, LLC | 2023 | Completed on August 14, 2023, this acquisition valued at approximately $910 million (with $730 million in cash and $184 million in debt settled) expands Thermo Fisher's real-world evidence capabilities in its Laboratory Products and Biopharma Services segment. The deal is expected to drive low-double-digit growth, contributing to clinical research activities with substantial goodwill ($626 million) and intangible assets related to customer relationships and product technology. |
The Binding Site Group | 2023 | Acquired on January 3, 2023 for a total purchase price of $2.71 billion (including $2.42 billion in cash and $307 million in debt), this transaction enhanced Thermo Fisher's Specialty Diagnostics segment by broadening its diagnostics offerings in blood cancers and immune system disorders. The deal involved significant net assets including definite-lived intangible assets (with an average amortization period of 17 years) and substantial goodwill, supporting expanded sales and synergies. |
U.S.-based Fourier-transform infrared gas analysis tech developer | 2022 | This acquisition within the Analytical Instruments segment focused on integrating advanced gas analysis technology. However, no additional detailed financial or operational information was provided for this deal. |
Recent developments and announcements about TMO.
Earnings
New Earnings (Q4 2024)
·Jan 30, 2025, 4:18 PMView full earnings summary →Thermo Fisher posted 90bps margin expansion in Q4, supported by cost actions and mid-single-digit growth in China. Management guides 3%-4% organic revenue growth and 6%-8% EPS growth in 2025—slightly below the 7%-9% target—but remains confident in long-term strength.
8-K Filings
8-K Filing
·Feb 25, 2025, 10:26 PMOther EventsView full 8-K filing →Thermo Fisher entered an agreement with Solventum to acquire its purification and filtration business for $4.1B in cash, pending customary conditions and regulatory approvals. Expected completion is by the end of 2025.