Thermo Fisher Scientific Authorizes $4 Billion of Share Repurchases

Rhea-AI Summary

Thermo Fisher Scientific Inc. (NYSE: TMO) Announces $4 Billion Share Repurchase Authorization. The world leader in serving science, Thermo Fisher Scientific Inc., has authorized the repurchase of $4 billion of shares of its common stock in the open market or in negotiated transactions, with no expiration date. This replaces the company’s existing repurchase authorization, of which $1 billion was remaining.

WALTHAM, Mass.--(BUSINESS WIRE)-- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its Board of Directors has authorized the repurchase of $4 billion of shares of its common stock in the open market or in negotiated transactions. The authorization has no expiration date. This replaces the company’s existing repurchase authorization, of which $1 billion was remaining.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114504114/en/

Media Contact Information:

Sandy Pound

781-622-1223

sandy.pound@thermofisher.com

Investor Contact Information:

Rafael Tejada

781-622-1356

rafael.tejada@thermofisher.com

Source: Thermo Fisher Scientific Inc.

FAQ

What did Thermo Fisher Scientific announce?

Thermo Fisher Scientific Inc. announced a $4 billion share repurchase authorization.

How will the share repurchase be conducted?

The repurchase will be conducted in the open market or in negotiated transactions.

Is there an expiration date for the repurchase authorization?

No, the authorization has no expiration date.

What is the status of the company's existing repurchase authorization?

The $4 billion authorization replaces the company’s existing repurchase authorization, of which $1 billion was remaining.