Thermo Fisher announces Q1 revenue increase

By The Science Advisory Board staff writers

April 30, 2021 -- Thermo Fisher Scientific said that its efforts to help scale vaccine production and support diagnostic testing globally during the COVID-19 pandemic were partially responsible for significant revenue growth in its first quarter of 2021.

In the company's first quarter (end-April 3), revenue grew 59% to $9.9 billion, an increase over $6.2 billion in revenues reported in the first quarter of 2020.

In addition, the company stated it had a strong start to the year in terms of product launches, with two new mass spectrometers hitting the market, as well as a new electron microscope, purification system, and an in-air surveillance solution for pathogens, including SARS-CoV-2.

The company announced after its first quarter end that it inked a deal to acquire PPD, a leading global provider of clinical research services, for $17.4 billion.

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