Thermo Fisher announces Q1 revenue increase

2020 05 07 22 15 9104 Thermo Fisher Scientific 400

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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