Thermo Fisher Scientific (NYSE:TMO) announced that it received CE Mark approval in Europe for the use of its diagnostic test in detecting nucleic acid from the SARS-CoV-2 virus that causes COVID-19. The Waltham, Mass.-based company’s test uses Applied Biosystems’ TaqPath assay and real-time PCR technology. It is designed to provide results within four hours of a […]
Thermo Fisher lines up financing for Qiagen buy
Thermo Fisher Scientific (NYSE:TMO) confirmed in a prospectus supplement that it is in part financing its $11.5 billion purchase of Qiagen (NYSE:QGEN) with an offering worth $2.2 billion. The offering includes $1.1 billion in 4.133% senior notes due in 2025 and another $1.1 billion in 4.497% senior notes due in 2030. Thermo Fisher said in its prospectus […]
5 companies on the front lines of the coronavirus fight
Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
7 ways the coronavirus is affecting medtech
Medtech companies face some tough times as the deadly coronavirus pandemic gains steam. But could this be the medical device industry’s Dunkirk, too? Just days ago, MassMEDIC president Brian Johnson made a call-out on LinkedIn for people to send ideas about how Massachusetts medical device companies could help fight COVID-19. He drew an analogy to […]
COVID-19 test development surges with pandemic
Companies around the world are racing to develop and distribute tests for COVID-19 to laboratories and to market other products and services they say can help patients and healthcare providers cope with the pandemic. On March 13, the FDA gave Thermo Fisher Scientific (NYSE:TMO) emergency use authorization (EUA) for a diagnostic test that certain U.S. laboratories […]
J&J’s Janssen, Thermo Fisher Scientific to collaborate on oncology diagnostic
Thermo Fisher Scientific (NYSE:TMO) announced today that it entered into an agreement with Johnson & Johnson‘s (NYSE:JNJ) Janssen Biotech to co-develop a companion diagnostic (CDx) in oncology. Under the agreement, Thermo Fisher is set to collaborate with Janssen’s R&D scientists to validate biomarkers for use with Thermo Fisher’s Oncomine DX target test in identifying variant-positive patients for […]
ThermoFisher to buy Qiagen for $11.5 billion
Thermo Fisher Scientific (NYSE:TMO) and Qiagen (NYSE:QGEN) announced today that their boards have unanimously approved Thermo Fisher’s proposal to acquire Qiagen for approximately $11.5 billion. The proposal is that Thermo Fisher will acquire Qiagen for €39 per share in cash, or $43.53. That price represents a premium of approximately 23% of the closing price of Qiagen’s common […]
Owlstone Medical partners with Thermo Fisher Scientific for breath biopsies
Owlstone Medical last week announced that it has forged a partnership with Thermo Fisher Scientific‘s (NYSE:TMO) to advance non-invasive breath sampling in disease detection. Through the agreement, both companies will integrate the Thermo Scientific Q Exactive GC Hybrid Quadrupole-Orbitrap MassSpectrometer into Owlstone Medical’s Breath Biopsy platform. The collaboration will hopefully qualify the mass analyzer for detecting biomarkers […]
Thermo Fisher prices $5.72B in senior notes offerings
Thermo Fisher Scientific (NYSE:TMO) said today that it has priced an aggregate principal offering of €4.4 billion ($4.82 billion USD) of euro-denominated notes and a separate $900 million aggregate principal offering of USD-denominated notes. The euro offering is expected to close on or about September 30, 2019, and the USD offering is expected to close […]
Report: Healthcare CEO pay balloons to $2.6B, quality of care not a factor in bonuses
Healthcare chief execs at 177 top companies collectively saw their compensation grow to $2.6 billion last year while quality of care and improvements to healthcare spending remained at most a marginal factor to their pay, according to an Axios analysis. Despite a focus on pharmaceutical CEOs, medical device company chief execs were five of the […]
Thermo Fisher to buy Irish drug manufacturing site from GSK for $101m
Thermo Fisher Scientific‘s (NYSE:TMO) said today that it inked a deal to acquire a Cork, Ireland-based drug substance manufacturing site from GlaxoSmithKline (NYSE:GSK) for approximately $100.6 million (EU €90 million). Waltham, Mass.-based Thermo Fisher said that the acquisition of the new site will allow it to expand capacity and meet customer demand for both the development and […]
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