Thermo Fisher Scientific Authorizes $4 Billion of Share Repurchases

Rhea-AI Summary

Thermo Fisher Scientific (NYSE: TMO) has authorized a substantial share repurchase program, amounting to $4 billion. This initiative allows for the repurchase of shares in the open market or through negotiated transactions, with no expiration date set for the authorization. This strategic move aims to enhance shareholder value and reflects the company's confidence in its strong financial position, supported by an annual revenue of approximately $40 billion.

Positive

• Authorization of a $4 billion share buyback enhances shareholder value.
• Strategic move signals confidence in the company's financial strength.

Negative

• None.

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.

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/20221110006109/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 is the purpose of Thermo Fisher's $4 billion share buyback?

The $4 billion share buyback aims to enhance shareholder value and reflects Thermo Fisher's confidence in its financial strength.

How will the share repurchase program impact Thermo Fisher's stock price?

The share repurchase program could potentially increase demand for Thermo Fisher's stock, which may lead to price appreciation.

Is there an expiration date for Thermo Fisher's share buyback authorization?

No, the share buyback authorization has no expiration date.