On August 19, Thermo Fisher Scientific rose 3.28% in regular trading, reaching $610.165/share, with turnover of $70.88 million. The gain comes amid broad strength in the Life Sciences Tools & Services sector and fresh signals of deepening engagement with China, the company's second-largest market.
Shanghai Mayor Gong Zheng met with Thermo Fisher Chairman and CEO Marc Casper, expressing hope that the company would increase investment in Shanghai, embed deeper into the city's biomedical industry ecosystem, and support local biopharma companies in global expansion. Casper affirmed plans to boost R&D investment in Shanghai and accelerate global business expansion from the city. Separately, China's Vice Commerce Minister Li Chenggang also met with Thermo Fisher's global president on August 17 to discuss trade relations and the company's China development.
The stock is building on momentum from a strong Q2 report in late July, where revenue grew 10.5% year-over-year to $11.99 billion and adjusted EPS of $6.03 beat consensus by 5.6%. The company also recently completed its $1.08 billion microbiology unit divestiture to Astorg, sharpening its portfolio focus on higher-growth segments.
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