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Financial Report: Thermo Fisher Scientific

Life Sciences Solutions Segment revenue up 10% in the quarter

By: Contract Pharma

Contract Pharma Staff

Thermo Fisher Scientific

1Q Revenues: $6.2 billion (+2%)

1Q Earnings: $788 million (-3%)

Comments: Life Sciences Solutions Segment revenue grew 10% to $1.8 billion. Analytical Instruments Segment revenue was $1.1 billion in the first quarter, down from $1.3 billion in 1Q19. Specialty Diagnostics Segment revenue was flat at $0.96 billion in the first quarter, reflecting the divestiture of the Anatomical Pathology business in June 2019. Laboratory Products and Services Segment revenue grew 9% to $2.7 billion, compared with revenue of $2.51 billion in 1Q19. During the quarter, the company entered an agreement to acquire QIAGEN N.V. for $11.5 billion, expanding its specialty diagnostics portfolio with molecular diagnostics capabilities and enhancing its life sciences offering with sample preparation technologies.

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