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Thermo Fisher Scientific

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business2 years ago•2 min saved

Thermo Fisher Scientific's Stock Takes a Hit as 2023 Outlook is Slashed Again

Thermo Fisher Scientific, a major player in the medical equipment industry, has lowered its 2023 outlook for the second time this year due to challenges in the macro environment. The company now expects lower earnings per share and sales than previously projected. This guidance cut suggests that Thermo Fisher may miss Wall Street's fourth-quarter expectations. The stock slumped by 5.5% as a result. Despite the challenges, Thermo Fisher's adjusted earnings for the third quarter exceeded analysts' forecasts, but sales were slightly below expectations. The company attributes the guidance cut to the impact of its COVID-19 business, including a decline in sales of COVID tests. However, analysts believe that the underlying organic growth is in line with peers and that the recent underperformance of the stock may be overdone.

via Investor's Business Daily|

#business #covid-19 #guidance-cut

business2 years ago•1 min saved

Thermo Fisher Scientific Acquires Olink in $3.1B Deal, Boosting Next-Generation Proteomics Leadership

Thermo Fisher Scientific has announced its plans to acquire Olink Holding AB in a $3.1 billion deal, aiming to enhance its life sciences portfolio and support drug discovery. The acquisition will provide Thermo Fisher's biotech customers with advanced protein analysis products and services, aiding in the acceleration of scientific breakthroughs. Olink's U.S.-listed shares surged by nearly 67% following the announcement, while Thermo Fisher's shares declined over 1%. The deal is expected to be completed by mid-2024 and will be funded through cash on hand and debt financing.

via Reuters|

#acquisition #business #drug-discovery

business2 years ago•9 min saved

Thermo Fisher Scientific Expands Proteomics Portfolio with Olink Acquisition

Thermo Fisher Scientific, a global leader in scientific services, has announced its plan to acquire Olink Holding AB, a provider of next-generation proteomics solutions, for approximately $3.1 billion. The acquisition will enhance Thermo Fisher's capabilities in the high-growth proteomics market, complementing its existing life sciences and mass spectrometry offerings. Olink's proprietary technology, Proximity Extension Assay (PEA), enables rapid and efficient protein analysis, and the company has a library of over 5,300 validated protein biomarker targets. The transaction is expected to be completed by mid-2024, subject to regulatory approvals.

via Investors|

#acquisition #business #life-sciences

science-and-technology2 years ago•1 min saved

Henrietta Lacks' Family Settles Lawsuit Over Immortal Cells

Thermo Fisher Scientific has reached a settlement in a lawsuit brought by the estate of Henrietta Lacks, whose "immortal" cells, known as the HeLa cell line, have been used in biomedical research for decades. Lacks' cells were taken without her consent during a medical procedure in 1951 and have since been cultivated in vast quantities for various medical studies. The terms of the settlement were not disclosed. The lawsuit accused Thermo Fisher of unjust enrichment by commercializing Lacks' genetic material. Both parties expressed satisfaction with the settlement.

via The Guardian|

#hela-cells #henrietta-lacks #lawsuit-settlement

science-and-technology2 years ago•3 min saved

Henrietta Lacks' Family Reaches Settlement in Cell Lawsuit

The family of Henrietta Lacks, whose cancer cells were taken without consent and used for medical research, has reached a confidential settlement with Thermo Fisher Scientific, the biotechnology company that profited from the cells. The family had accused the company of selling the cells and attempting to secure intellectual property rights without compensating them or seeking permission. Henrietta Lacks's cells, known as HeLa cells, have been instrumental in numerous medical advancements, including the development of vaccines for polio and COVID-19. The terms of the settlement were not disclosed, but the family expressed relief and suggested that similar lawsuits may follow.

via The New York Times|

#hela-cells #henrietta-lacks #lawsuit

science-and-technology2 years ago•3 min saved

Settlement Reached: Henrietta Lacks' Family Resolves HeLa Cells Lawsuit

The family of Henrietta Lacks, whose cervical cells were taken without her consent in 1951 and became the first immortalized human cell line known as HeLa cells, has reached a settlement with Thermo Fisher Scientific. The family sued the biotechnology company, accusing it of profiting from a racist medical system. The terms of the settlement are confidential. Lacks' cells have played a crucial role in scientific and medical advancements, including the development of the polio vaccine and COVID-19 vaccines. The Lacks family had never been compensated for the commercialization of the cells.

via The Associated Press|

#hela-cells #henrietta-lacks #medical-research