Thermo Fishr Sci - TMO STOCK NEWS

Thermo Fisher Scientific (NYSE:TMO) has partnered with Innoforce to establish a new pharma services facility in Hangzhou, China, aimed at integrated biologics and sterile drug development. Expected to be operational by 2022, this state-of-the-art facility will enhance Thermo Fisher's global pharma network, offering services that align with stringent regulatory guidelines. The collaboration is poised to meet rising demand for biologics in China and facilitate drug development for both regional and global clients.

Thermo Fisher Scientific has declared a quarterly cash dividend of $0.22 per share, payable on January 15, 2021. Shareholders on record as of December 15, 2020 will receive this dividend. The company also authorized a significant $2.5 billion share repurchase program, replacing the previous $1 billion authorization. This repurchase program does not have an expiration date, indicating the company's confidence in enhancing shareholder value.

Thermo Fisher Scientific (TMO) announced impressive Q3 2020 results, reporting revenue of $8.52 billion, a 36% increase from Q3 2019. GAAP diluted EPS soared 157% to $4.84, while adjusted EPS rose 91% to $5.63. COVID-19 related revenue amounted to $2.0 billion, bolstering the company's pandemic response efforts, including new testing solutions and the opening of a new facility in Singapore. The company also donated over $25 million to support HBCUs during the pandemic. Overall, TMO is positioned for strong future growth.

Thermo Fisher Scientific (NYSE:TMO) has expanded the Emergency Use Authorization (EUA) for its TaqPath COVID-19 Combo Kit to incorporate nasal swab specimens collected via Everlywell's COVID-19 Test Home Collection Kit. This partnership aims to enhance access to PCR-based testing, increasing convenience for individuals. With more than 10,000 employees participating in a pilot program for at-home testing, Thermo Fisher aims to bolster workplace safety as organizations seek to manage COVID-19 risks. Note that this home collection kit is authorized under an EUA and not FDA approved.

Thermo Fisher Scientific (NYSE: TMO) plans to establish a new sterile filling facility in Singapore with an investment of US$130 million. This facility, supported by the Singapore Economic Development Board, aims to enhance manufacturing capacity for therapies and vaccines, responding to future health crises. Once operational in 2022, it will include the region's first high-speed sterile line for live virus filling, capable of producing 30 million doses per month and employing over 300 people.

Thermo Fisher Scientific (NYSE: TMO) has launched two new SARS-CoV-2 antibody tests: the OmniPATH COVID-19 Total Antibody ELISA and EliA SARS-CoV-2-Sp1 IgG tests. The OmniPATH test has received Emergency Use Authorization (EUA) from the FDA for detecting total antibodies, while the EliA test is commercially available with its EUA currently under review. These tests enhance the company’s portfolio in response to the COVID-19 pandemic, allowing laboratories to conduct testing with greater efficiency and flexibility. Thermo Fisher's annual revenue exceeds $25 billion.

Thermo Fisher Scientific Inc. (TMO) will announce its Q3 2020 financial results before the market opens on October 21, 2020, followed by a conference call at 8:30 a.m. EDT. The call will detail the company's financial performance and future expectations. Investors can listen via phone or through their website. Thermo Fisher, a leader in serving science, reports annual revenues exceeding $25 billion and employs over 75,000 colleagues globally.

Thermo Fisher Scientific (NYSE: TMO) is investing over $140 million to expand its laboratory plastics production to meet surging global demand for COVID-19 testing and vaccine production. The initiative will create more than 1,000 jobs across various locations, including Rochester, NY, and Tijuana, Mexico. The company aims to enhance automation and optimize its supply chain to ensure availability of essential products like pipette tips and storage tubes. This expansion underscores Thermo Fisher's commitment to supporting the ongoing COVID-19 response with crucial laboratory supplies.

Thermo Fisher Scientific (NYSE: TMO), a leader in serving science, will have its CEO, Marc N. Casper, present virtually at the Morgan Stanley Global Healthcare Conference on September 15, 2020, at 8:00 a.m. ET. The event can be accessed via a live webcast on the company’s website. Thermo Fisher reporting annual revenues over $25 billion, focuses on making the world healthier, cleaner, and safer through its innovative technologies and dedicated services.