Thermo Fisher Scientific

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Thermo Fisher Scientific Inc.
TypePublic
IndustryLaboratory equipment, biotechnology, pharmaceutical, healthcare
Founded1956[1]
HeadquartersWaltham, Massachusetts, U.S.
Area served
Worldwide
Key people
ProductsAnalytical/other equipment and instruments, laboratory reagents and consumables, science software and services—for research, discovery, analysis, and manufacturing (incl. pharmaceutical and diagnostic products)
RevenueIncrease US$32.21 billion (2020)[2][3]
Increase US$7.794 billion (2020)[3]
Increase US$6.375 billion (2020)[3]
Total assetsIncrease US$69.052 billion (2020)[3]
Total equityIncrease US$34.507 billion (2020)[3]
Number of employees
c. 90,000 (2021)[4]
Websitewww.thermofisher.com Edit this at Wikidata
Thermo Fisher Scientific's previous headquarters in Waltham, Massachusetts
Thermo Fisher Scientific office in Canada

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On May 14, 2006, Thermo Electron and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange; the merged company was named Thermo Fisher Scientific, and had about 30,000 employees, and reported US$9 billion in combined revenue.[5][better source needed] On November 9, 2006, the companies announced that the merger had been completed.[5] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[6] In April 2007, Genevac was sold to Riverlake Partners LLC[7] and the merger closed with FTC approval.[8]

Today, the company's products are sold under the brand names of Thermo Scientific, Fisher Scientific, and several other recognized brand names (e.g. Chromacol, Nalgene, Cellomics, Pierce Protein Research and Fermentas). According to company figures, 46% of its sales are in life sciences, 20% in healthcare, and 34% in industrial/environmental and safety.[9]

Thermo Fisher has offices and operations worldwide, notably the U.S. and in Europe,[10] and China having 5,000 employees and contributing over 10% of the company's revenue.[11]

Acquisition history[edit]

In May 2011, Thermo Fisher Scientific Inc. bought Phadia to expand in testing for allergies and autoimmune diseases for €2.47 billion ($3.5 billion) in cash purchase.[12]

In April 2013, after a competitive bidding with Hoffmann-La Roche,[13] Thermo Fisher acquired Life Technologies Corporation for US$13.6 billion in a deal, adding further service lines related to advanced DNA sequencing and genetic testing.[14]

In February 2015, the company announced it would acquire Advanced Scientifics for $300 million in a cash-deal. ASI designs, manufactures and delivers technologies used in bioprocessing.[15] In June 2015, the company announced its intention to acquire Alfa Aesar, a global manufacturer of research chemicals for $405 million[16] from Johnson Matthey, and the acquisition was completed at the end of September[17]

In January 2016, the company announced it would acquire Affymetrix for $1.3 billion.[18] On May 27, 2016, the company announced it would acquire FEI Company for $4.2 billion, a manufacturer of electron microscopes.[19][20] This acquisition is anticipated to close in early 2017 and will contribute to the growth of Thermo's Analytical Instruments business group.[21] In November the company announced it would acquire MTI-GlobalStem, a previously privately held company that develops reagents for cell transfection, neurobiology and stem cell research.[22]

In February 2017, the company acquired Finesse Solutions, Inc., developer of scalable control automation systems and software for bioproduction after receiving early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.[23] The transaction was completed a day later.[24] In March, the company announced it would acquire Core Informatics, provider of cloud-based platforms supporting scientific data management.[25] In August, the company acquired Patheon, a contract development and manufacturing organization serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion.[26] As of 2017, the company had revenues of $20.9 billion, and was a Fortune 500 company.[27]

In September 2018, Thermo Fisher Scientific announced it had signed a definitive agreement with Becton, Dickinson and Company (BD) to acquire their Advanced Bioprocessing business. THis BD business had annualized revenue of approximately $100 million; as of October 16, 2018, it had been integrated into Thermo Fisher's Life Sciences Solutions Segment.[28][better source needed]

In March 2019, Thermo Fisher announced its entry into the gene therapy manufacturing market with a $1.7 billion cash acquisition for Brammer Bio.[29][30][31] In May 2019, Thermo Fisher partnered with MMJ International Holdings to manufacture drug products developed by MMJ for the treatment of multiple sclerosis and Huntington's disease.[32][33] In June, the business announced it would acquire mass spectrometry software provider, HighChem.[34]

In March 2020, Thermo Fisher agreed to purchase Qiagen, a molecular diagnostics company, for $10.1 billion.[35] In July, the offer for Qiagen was raised from €39 to €43 per share (€11.3 billion in total).[36][37] On August 13, the company announced that its offer to acquire all of the ordinary share had lapsed, and it terminated the acquisition agreement.[38]

In August 2020, Thermo Fisher opened its new Lenexa facility aimed at boosting the production and manufacturing of COVID-19 testing supplies.[39] In December the business announced it would acquire Phitonex, Inc.[40]

In January 2021, Thermo Fisher announced it had acquired Belgium-based viral vector manufacturer, Henogen SA, from Groupe Novasep SAS for €725 million in cash[41][42] and Mesa Biotech, Inc. for up to $550 million.[43][44]

In April 2021, Thermo Fisher announced the acquisition of PPD, Inc., a contract research organization, for a total cash purchase price of $17.4 billion-plus the assumption of approximately $3.5 billion of net debt. PPD generated $4.7 billion in revenue during FY 2020, and this transaction, which values their company at approximately $20.9 billion.[45] In November, the business announced it would acquire PharmaFluidics and its μPAC range of micro-chip-based chromatography products.[46]

Thermo Fisher Scientific Acquisitions
  • Thermo Fisher Scientific (formed in 2006 by the merger of Thermo Electron and Fisher Scientific)
    • Thermo Fisher Scientific
      • Fisher Scientific
        • Scientific Materials Co. (Est 1902)
        • Scientific Supplies, Ltd (Acq 1925)
        • Eimer & Amend (Acq 1940)
        • E. Machlett & Sons (Acq 1957)
        • Janssen Chimica
        • Eastman Kodak Company (Organic Chemicals division)
        • Apogent Technologies Inc. (Acq 2004)
        • Athena Diagnostics (Acq 2006)
      • Thermo Electron
        • Kendro Laboratory Products (Acq 2005)
        • Rupprecht and Patashnick Co., Inc. (Acq 2005)
        • NITON LLC (Acq 2005)
        • InnaPhase Corporation (Acq 2004)
        • US Counseling Services, Inc. (Acq 2004)
        • Jouan SA (Acq 2004)
        • Laboratory Management Systems, Inc. (Acq 2003)
    • Phadia (Acq 2011)
    • Life Technologies (Acq 2013)
      • Invitrogen Corporation (Merged 2008)
        • NOVEX
        • Research Genetics, Inc (Acq 1999)
        • Ethrog Biotechnology
        • Molecular Probes
        • Dynal
        • Panvera
        • InforMax
        • BioSource
        • CellzDirect
        • Zymed
        • Caltag Laboratories
      • Applied Biosystems (Merged 2008)
    • Advanced Scientifics (Acq 2015)
    • Alfa Aesar (Acq 2015)
    • Affymetrix (Acq 2016)
      • Genetic MicroSystems (Acq 1999)
      • Neomorphic (Acq 2000)
      • ParAllele Bioscience
      • USB Corporation (Acq 2008)
      • Panomics (Acq 2008)
      • True Materials (Acq 2000)
      • eBioscience (Acq 2012)
    • Compendia Bioscience (Acq 2012)
    • FEI Company
    • MTI-GlobalStem (Acq 2016)
    • Finesse Solutions, Inc. (Acq 2017)
    • Core Informatics (Acq 2017)
    • Patheon (Acq 2017)
      • Agere Pharmaceuticals (Acq 2015)
      • Gallus Pharmaceuticals (Acq 2014)
      • Royal DSM NV (Pharmaceutical div, merged 2014)
      • MOVA (Acq 2004)
      • Banner Pharmacaps (Acq 2013)
    • Phitonex, Inc. (Acq 2020)
    • Henogen SA (Acq 2021)
    • Mesa Biotech, Inc. (Acq 2021)
    • PPD, Inc. (Acq 2021)
      • Acurian (Acq 2013)
      • Evidera (Acq 2016)
      • Medimix (Acq 2019)
    • PharmaFluidics (Acq 2021)

Research partnership[edit]

In September 2017, Thermo Fisher Scientific signed an agreement with the Institute of Pathology Heidelberg (IPH) to establish its Center of Molecular Pathology at Heidelberg University Hospital as the newest member of the Next Generation Sequencing Companion Dx Center of Excellence Program (COEP). The initiative focuses on establishing strategic collaborations with leading, European-based organizations that can lead studies using Thermo Fisher's Oncomine portfolio of research panels destined for development as companion diagnostics to help drive precision oncology in the region.[47]

Controversy[edit]

In February 2019, Thermo Fisher announced that it would stop selling its equipment in Xinjiang.[48] In June 2020, Thermo Fisher Scientific was reported to sell its equipment to security services in China for use in what was alleged as part of a genetic surveillance program.[49] A report from the Australian Strategic Policy Institute found that Thermo Fisher collaborated with the Chinese Ministry of Public Security to develop a Huaxia PCR amplification kit specifically to identify the genotypes of Uyghur, Tibetan and Hui ethnic minorities.[50] In June 2021, The New York Times reported that, despite bans, Thermo Fisher equipment continued to be sold to police in Xinjiang.[51]

In October 2021 the estate of Henrietta Lacks sued to get past and future payment for the alleged and widely known unauthorized sale by Thermo Fisher Scientific of her HeLa cells which are essential in many types of research.[52] Over 50 million tons of her cells have been produced and used in over 60,000 scientific studies touching virtually every realm of medicine, including the development of polio vaccines, gene mapping, in-vitro fertilization, and multitudes more. [53][54][55]

References[edit]

  1. ^ Annual Report / 2020 s2.q4cdn.com, accessed 17 April 2021
  2. ^ "Thermo Fisher Scientific Revenue 2006-2020 | TMO". www.macrotrends.net.
  3. ^ a b c d e "Thermo Fisher Scientific Inc. 2020 Annual Report (Form 10-K)" (PDF). them. Thermo Fisher Scientific. December 2020.
  4. ^ https://corporate.thermofisher.com/us/en/index/about.html#:~:text=Our%20global%20team%20of%20more,Unity%20Lab%20Services%20and%20Patheon.
  5. ^ a b Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific Archived 2012-07-22 at archive.today, press release, November 9, 2006
  6. ^ Merger of Thermo and Fisher anticompetitive, FTC Ruling
  7. ^ 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
  8. ^ FTC consent to Genevac divestiture, FTC news release
  9. ^ "Thermo Fisher Scientific : Corporate Profile". Archived from the original on 2007-07-03.
  10. ^ "Our Locations". Thermo Fisher Scientific. Retrieved March 22, 2020.
  11. ^ "Thermo Fisher 2019 Annual Report" (PDF).
  12. ^ "Thermo Fisher Rises to Record After $3.5 Billion Phadia Buy". Bloomberg.
  13. ^ Brennan, Zachary (March 2013). "Price of Life Tech Steady at $11B as Roche Joins Bidding War". Outsourcing-Pharma.com. Retrieved 2017-08-03.
  14. ^ Bill Berkrot and Susan Kelly (15 April 2013). "Thermo Fisher to buy Life Tech for $13.6 billion". Reuters.
  15. ^ "Thermo Fisher Scientific Acquires Single-Use Specialist ASI for $300 Million - GEN News Highlights - GEN". GEN. 5 February 2015.
  16. ^ "Thermo Fisher Scientific Agrees to Acquire Research Chemicals Firm". GEN. 25 June 2015.
  17. ^ "Thermo Fisher Scientific - Thermo Fisher Scientific Completes Acquisition of Alfa Aesar to Significantly Expand Laboratory Chemicals Offering". Retrieved 5 January 2016.
  18. ^ Writer, GEN Staff (January 11, 2016). "Thermo Fisher Scientific to Acquire Affymetrix for $1.3B".
  19. ^ Hallam, Kristen (27 May 2016). "Thermo Fisher Scientific to Buy FEI for About $4.2 Billion". Bloomberg. Retrieved 2016-05-28.
  20. ^ Schultz, Clark (27 May 2016). "Thermo Fisher Scientific lands FEI Company". Seeking Alpha. FEI. Retrieved 2016-05-27.
  21. ^ Seiffert, Don (27 May 2016). "Thermo CEO mum on whether he had competitors in $4.2B bid for FEI". Boston Business Journal. Retrieved 31 May 2016.
  22. ^ "Thermo Fisher Scientific Acquires MTI-GlobalStem - Thermo Fisher Scientific eNews". news.thermofisher.com.
  23. ^ "Thermo Fisher Scientific Receives Early Termination of Hart-Scott-Rodino Waiting Period for Acquisition of Finesse Solutions, Inc. - Thermo Fisher Scientific eNews". news.thermofisher.com.
  24. ^ "Thermo Fisher Scientific Completes Acquisition of Finesse Solutions, Inc. - Thermo Fisher Scientific eNews". news.thermofisher.com.
  25. ^ "Thermo Fisher Scientific Acquires Core Informatics, Provider of Leading Cloud-Based Scientific Data Platforms - Thermo Fisher Scientific eNews". news.thermofisher.com.
  26. ^ Editors, Pharmaceutical Technology. "Thermo Fisher Scientific Acquires Patheon". www.pharmtech.com. Archived from the original on 12 September 2017. Retrieved 2017-09-12.CS1 maint: extra text: authors list (link)
  27. ^ "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-19.
  28. ^ Scientific, Thermo Fisher. "Thermo Fisher Scientific to Acquire Advanced Bioprocessing Business from BD". www.prnewswire.com.
  29. ^ Reporter, Jonathan Saltzman-. "Thermo Fisher gets into gene therapy with $1.7b deal for Brammer Bio - The Boston Globe". BostonGlobe.com. Retrieved 2019-03-27.
  30. ^ "Thermo Fisher Scientific to Acquire Brammer Bio, a Leader in Viral Vector Manufacturing". MediaRoom. Retrieved 2019-03-27.
  31. ^ "Thermo Fisher shoulders into gene therapy manufacturing with $1.7B deal for Brammer". FiercePharma. Retrieved 2019-03-27.
  32. ^ Somerset, Sara Brittany. "Hall Of Flowers: Acquisitions And Celebrity Cannabis Debuts". Forbes. Retrieved 2020-01-06.
  33. ^ "To Support MS Cannabinoid Studies, MMJ Asks US Agency to OK Shipments from Canada". Multiple Sclerosis News Today. 2019-08-14. Retrieved 2020-01-06.
  34. ^ "Thermo Fisher Scientific Acquires HighChem, Provider of Mass Spectrometry Software". BioSpace. Retrieved 2020-06-20.
  35. ^ Martuscelli, Carlo (2020-03-03). "Thermo Fisher to Buy Diagnostic Company for $10.1 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-03.
  36. ^ Reuters Staff (July 16, 2020). "Thermo Fisher's sweetened Qiagen bid fails to win over key investor". Reuters – via www.reuters.com.
  37. ^ "Thermo Fisher Scientific and QIAGEN N.V. Agree on Amended Terms to Acquisition Agreement". BioSpace.
  38. ^ Scientific, Thermo Fisher. "Thermo Fisher Scientific Announces Results of Offer to Acquire QIAGEN, Lapse of Offer and Termination of Acquisition Agreement". www.prnewswire.com.
  39. ^ "Biotech firm Thermo Fisher opens Lenexa facility aimed at boosting Kansas' COVID-19 testing capacity". Shawnee Mission Post - Community news and events for northeast Johnson County. 2020-08-28. Retrieved 2020-09-10.
  40. ^ "Thermo Fisher Scientific Acquires Programmable Dye Platform Pioneer Phitonex". BioSpace.
  41. ^ "Thermo Fisher Scientific Acquires Viral Vector Manufacturing Business from Novasep". BioSpace.
  42. ^ "Thermo Fisher Takes Deep Dive into Cell and Gene Therapy with Viral Vector Business Buy". BioSpace.
  43. ^ "Thermo Fisher Scientific to Acquire Point-of-Care Molecular Diagnostics Provider Mesa Biotech". Seeking Alpha.
  44. ^ "Thermo Fisher Scientific to Acquire Point-of-Care Molecular Diagnostics Provider Mesa Biotech". BioSpace.
  45. ^ "Thermo Fisher expands pharma service business with $17.4 bln PPD acquisition". Reuters. 2021-04-15.
  46. ^ https://www.biospace.com/article/releases/thermo-fisher-scientific-adds-patterned-microchip-based-technology-to-liquid-chromatography-portfolio/?s=79
  47. ^ "Institute of Pathology Joins Thermo Fisher Scientific to Drive Oncology Companion Diagnostic Development". Technology Networks. Retrieved 2017-09-12.
  48. ^ Wee, Sui-Lee (2019-02-21). "China Uses DNA to Track Its People, With the Help of American Expertise". The New York Times. ISSN 0362-4331. Retrieved 2020-06-20.
  49. ^ Wee, Sui-Lee (2020-06-17). "China Is Collecting DNA From Tens of Millions of Men and Boys, Using U.S. Equipment". The New York Times. ISSN 0362-4331. Retrieved 2020-06-17.
  50. ^ Dirks, Emile; Leibold, James. "Genomic surveillance". www.aspi.org.au. Retrieved 2020-10-04.
  51. ^ Wee, Sui-Lee (2021-06-11). "China Still Buys American DNA Equipment for Xinjiang Despite Blocks". The New York Times. ISSN 0362-4331. Retrieved 2021-06-30.
  52. ^ "Estate of Henrietta Lacks sues Thermo Fisher over the improper sale of her immortal cells".
  53. ^ "Henrietta Lacks' 'Immortal' Cells".
  54. ^ "Henrietta Lacks' Descendants Sue Company They Believe Profits from Her Immortal Cells".
  55. ^ "Henrietta Lacks' estate sues drug company that sold her cells". 4 October 2021.

External links[edit]