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LONDON, UK / ACCESSWIRE / March 20, 2018 / Active-Investors.com has just released a free research report on Thermo Fisher Scientific Inc. (NYSE: TMO). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=TMO as the Company's latest news hit the wire. On March 16, 2018, the Company announced its expansion in the European Union (EU) and the investment of $35 million in a state-of-the-art pharma services supply chain facility in Rheinfelden (Baden) Germany. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Thermo Fisher Scientific most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=TMO
Details of the Facility
The new facility will feature the latest technology and modern infrastructure to increase European capacity for cold and ambient clinical trial materials in support of complex clinical research and so meet the growing needs of customers.
The facility will be scalable for mixed-use space and provide a strategic logistical location for shipping by either road or air. Thermo Fisher Scientific will start construction in Q4 2018 for the 8,000 square meter facility at the 26,000 square meter site with an anticipated completion within 12 to 18 months.
Facility will Bring More Than 200 New Jobs
The Company's decision to expand is in response to a growing demand for global clinical supply services, worldwide. The new facility will also serve to address GDP guidelines, Clinical Trial Regulations Annex 6 and the new Falsified Medicines Directive 2019. The facility will create significant opportunity for 200 new jobs locally.
Thermo Fisher Scientific Opens New Opportunities to Support Patient Needs in EU
Commenting on the announcement, Astrid Frank, Vice President and General Manager - Europe Thermo Fisher Clinical Services, stated that this is an exciting time for the Company's business, and it reinforces its commitment to best serve the clients globally.
Astrid added that by creating a best-in-class supply chain facility in the EU, Thermo Fisher Scientific opens new opportunities to support client and patient needs.
Thermo Fisher Scientific Acquired IntegenX
On March 16, 2018, the Company also announced the acquisition of IntegenX Inc., which provides a rapid DNA platform for use in forensics and law enforcement applications. IntegenX products will significantly enhance Thermo Fisher's existing HID portfolio and complement its leading human identification chemistries, as well as its qPCR and capillary electrophoresis systems. IntegenX solutions include the RapidHIT platforms, software analysis tools, and related consumables that are highly compatible with Thermo Scientific's short tandem repeat (STR) chemistries for human identification.
State-of-the-Art Manufacturing Centers
Thermo Fisher Scientific's state-of-the-art manufacturing centers are committed to advancing life science. These manufacturing facilities set a benchmark for the biotechnology industry, and feature innovation, maximum flexibility, and reproducibility. The centers comply with certified quality system with ISO 9001, 13485, and 14001 statuses, US 21 CFR Part 820 Quality System (cGMP), USDA guidelines and manufacturer Class I, II, and III medical devices along with general purpose reagents. The state-of-the-art manufacturing centers are located in the US, Europe, and Asia.
About Thermo Fisher Scientific Inc.
Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. is the world leader in serving science, with revenues of more than $20 billion and approximately 65,000 employees globally. The Company helps customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity.
Stock Performance Snapshot
March 19, 2018 - At Monday's closing bell, Thermo Fisher Scientific's stock marginally advanced 0.61%, ending the trading session at $211.72.
Volume traded for the day: 1.72 million shares, which was above the 3-month average volume of 1.45 million shares.
Stock performance in the last month - up 0.47%; previous three-month period - up 12.43%; past twelve-month period - up 34.09%; and year-to-date - up 11.50%
After yesterday's close, Thermo Fisher Scientific's market cap was at $85.88 billion.
Price to Earnings (P/E) ratio was at 34.63.
The stock has a dividend yield of 0.32%.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.
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