Thermo Fisher Swoons On Share Buyback

(MENAFN- Baystreet) Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its Board of Directors has authorized the repurchase of $4 billion of shares of its common stock in the open market or in negotiated transactions. The authorization has no expiration date. This replaces the company's existing repurchase authorization, of which $1 billion was remaining.

Thermo Fisher Scientific purports to be the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer.
“Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies,” reads this morning's news release,“we are here to support them.

Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.

TMO shares drooped $9.57, or 1.8%, to $523.50.

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