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Performance indicators
2020: Revenue growth by 26%, to $32.22 billion, profit - $6.38 billion
In 2020, Thermo Fisher Scientific raised $32.22 billion, up 26% from a year earlier when the company's sales were measured at $25.54 billion.
In the Life Sciences Solutions division, annual turnover grew by 77%, reaching $12.17 billion. Sales of analytical tools (Analytical Instruments) at the end of 2020 amounted to $5.12 billion against $5.52 billion in 2019.
In the segment of solutions for special diagnostics (Specialty Diagnostics) there was a 44 percent increase in revenue - up to $5.34 billion. The turnover in the direction of Laboratory Products and Services increased by 16% in 2020 - to $12.24 billion.
The lion's share of the company's revenue (about 38%) in 2020 was brought by pharmaceutical and biotechnology companies. Medical facilities and diagnostic laboratories accounted for 33% of Thermo Fisher Scientific's product and service sales. The third largest group of clients are scientific and government organizations, which in 2020 provided the manufacturer with 16% of revenue. The share of orders from industrial enterprises amounted to 13%.
In terms of regions, North America still leads, accounting for 53% of Thermo Fisher Scientific sales in 2020. The shares of Europe and the Asia-Pacific region were 26% and 18%, respectively.
The main turnover of Thermo Fisher Scientific is occupied by the supply of consumables for laboratory and other equipment - their share in the company's total revenue in 2020 amounted to 58%. 21% of revenue each came from services, as well as shipments of tools, equipment and software.
Thermo Fisher Scientific ended 2020 with a net profit of $6.38 billion against the profit of $3.7 billion received at the end of the previous year.
The financial rise of the company was facilitated by the COVID-19 coronavirus pandemic. In the fourth quarter of 2020 alone, Thermo Fisher Scientific earned $3.2 billion on the supply of products and services in projects aimed at combating coronavirus infection.[1]
History
2023
Thermo Fisher Scientific bought Olink
On October 17, 2023, the American corporation Thermo Fisher Scientific, which produces scientific equipment, reagents and consumables for medical laboratories, announced the conclusion of an agreement on the acquisition of the Swedish company Olink Holding AB. The transaction amount is $3.1 billion, and it is planned to close it by mid-2024 after obtaining the necessary permits from regulators. Read more here.
Buying CorEvitas
On July 6, 2023, Thermo Fisher Scientific, an American manufacturer of scientific equipment, reagents, consumables and software for medical laboratories, announced an agreement to acquire CorEvitas. Read more here.
2022
Liquidation of the Russian subsidiary
In mid-November 2022, it became known that the manufacturer of equipment for medical diagnostics Thermo Fisher Scientific was liquidating its Russian subsidiary, Termo Fisher Scientific JSC. The corresponding application was submitted to the Interdistrict Inspection of the Federal Tax Service of Russia No. 15 in St. Petersburg.
After Thermo Fisher Scientific announced the suspension of sales and production in Russia in March 2022, Russian laboratories started talking about the risk of stopping FISH studies used in preimplantation, prenatal and postnatal genetic diagnostics, as well as to determine chromosomal abnormalities in the case of cancer and oncohematological diseases.
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In addition, the company supplied dosing products for laboratories to the domestic market. There were two main manufacturers on the market - Thermo Fisher Scientific and Sartorius. After the first left the market, the number of orders for dispensers from Sartorius increased many times, said Alexander Shibanov, General Director of the Unimed Group of Companies. He does not expect serious problems with the supply of these medical devices.
 | Difficulties will arise with Thermo Fisher Scientific sequencers: now, due to the cessation of the supply of reagents, these expensive devices have become just furniture, says Shibanov. |  |
Thermo Fisher Scientific in Russia, in particular, worked with large scientific laboratories. The company earlier in 2022 explained its decision to stop sales in Russia by worsening market conditions and supply problems over several months. The company promised to monitor the situation and "make appropriate adjustments."
The Termo Fisher Scientific plant produced medical plastic - dispensers and disposable tips, as well as medical and laboratory equipment.[2]
Thermo Fisher Scientific Acquires The Binding Site for $2.6 Billion
On October 31, 2022, the American company Thermo Fisher Scientific announced the conclusion of an agreement to acquire the supplier of specialized diagnostic products The Binding Site Group (The Binding Site). The transaction amount is £2.25 billion (approximately $2.6 billion at the exchange rate). Read more here.
Plant closure in Russia
As it became known on August 19, 2022, Thermo Fisher Scientific stopped the work of its plant in St. Petersburg and the shipment of finished medical products to distributors in the Russian Federation. The company attributes this to supply chain disruption due to external sanctions.
According to the publication "Business Petersburg," production was stopped in June 2022. Two months later, St. Petersburg clinics and medical laboratories were left, in particular, without consumables for analyzes. At the same time, the authorities of St. Petersburg previously included Termo Fisher Scientific JSC (the Russian legal entity of the company) in the list of enterprises for operational monitoring of key industries for the city's economy.
The company itself reported that it decided to stop sales and production in Russia and Belarus due to deteriorating market conditions and supply problems for several months. The company promised to monitor the situation and "make appropriate adjustments."
Artur Avakov, commercial director of the distributor of laboratory equipment at Diaem, said in an interview with Delovoy Petersburg that it would not be possible to quickly find a replacement for Thermo Fisher Scientific consumables.
| | There are many Chinese analogues on the market, but they do not have registration, they are inferior in quality to St. Petersburg products and have a significant delivery time, "he said. | |
Daria Goryakina, deputy general director of the Helix Laboratory Service, which is a client of Thermo Fisher Scientific, said in a conversation with RBC Petersburg that the company sees no difficulties due to the termination of deliveries of Thermo Fisher Scientific.
| | Helix's main partners in consumables, including laboratory plastic, continue to work, we simply increased the volume of purchases from other suppliers, Goryakina said.[3] | |
2021
Purchase of drug developer PPD for $17.4 billion
In early December 2021, Thermo Fisher bought a PPD drug developer. The deal amounted to $17.4 billion. As part of the deal, PPD ceased trading on the Nasdaq, the company will become part of Thermo Fisher's laboratory products and services segment. Read more here.
Purchase of Mesa Biotech, a molecular diagnostics company
At the end of January 2021, Thermo Fisher Scientific announced the acquisition of a private manufacturer of molecular diagnostics Mesa Biotech for $450 million with the possibility of receiving an additional $100 million upon completion of certain stages of sales. The deal is expected to be completed in the first quarter of 2021. Read more here.
2020: Purchase of equipment for tests for cancer and coronavirus for $11.5 billion
In early March 2020, it became known that Thermo Fisher Scientific was buying Qiagen NV. The Qiagen Governing Council unanimously approved Thermo Fisher's offer to acquire the company for €39 euros per share, the transaction will be paid for by the buyer's own funds (without attracting his shares). With such a deal, the price of QIAGEN will be approximately $11.5 billion. Read more here.
Notes
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