Thermo Fisher Scientific, Inc. - TMO STOCK NEWS

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.

Thermo Fisher Scientific (NYSE: TMO) will host a virtual Analyst Meeting on September 10, 2020, from 9:00 a.m. to 11:00 a.m. EDT. The event will feature presentations from senior management, discussing current business conditions and concluding with a Q&A session. Investors can access the live webcast through the Investors section of their website, with a replay available afterward. Thermo Fisher is a leader in serving science, generating over $25 billion in annual revenue, and employs more than 75,000 professionals worldwide.

Thermo Fisher Scientific (NYSE:TMO) has announced a $15 million initiative, named The Just Project, to enhance COVID-19 testing at historically black colleges and universities (HBCUs) in the U.S. This initiative aims to provide essential diagnostic instruments and support to ensure a safe return to campus for students, faculty, and staff. HBCUs like Howard University and Morehouse School of Medicine will receive donations to facilitate regular testing at no cost. Thermo Fisher also plans to hire at least 500 students from these institutions over three years to promote diversity in the workforce.

Thermo Fisher Scientific (NYSE:TMO) has launched the Amplitude Solution, a highly automated PCR system designed to analyze up to 6,000 COVID-19 samples daily. This new system can significantly increase laboratory testing capacity, supporting global reopening efforts. Utilizing Applied Biosystems TaqPath COVID-19 Combo Kit, it streamlines the testing process with minimal manual intervention. The company plans to seek Emergency Use Authorization from the FDA and aims to expand its diagnostic capabilities globally, with a production capacity exceeding 10 million test reactions weekly.

Thermo Fisher Scientific (NYSE: TMO) has confirmed that its cash offer to acquire all of QIAGEN's ordinary shares for €43.00 per share will expire on August 10, 2020. This represents Thermo Fisher's final offer after discussions with QIAGEN. The Supervisory and Managing Boards of QIAGEN have unanimously supported this offer and recommended all shareholders accept it. If the minimum acceptance threshold of 66.67% is not met, the offer will terminate, and QIAGEN will owe Thermo Fisher USD 95 million. The deal's success depends on satisfying regulatory approvals.

Thermo Fisher Scientific (NYSE: TMO) reported a strong second quarter for 2020, with revenue up 10% to $6.92 billion and a 28% increase in adjusted EPS to $3.89. The growth was fueled by approximately $1.3 billion in COVID-related revenue and strategic initiatives, including enhanced PCR testing capabilities and collaborations for antibody testing. While GAAP operating income decreased from the prior year, adjusted metrics showed significant improvement, reflecting strong demand and operational efficiency.