Thermo Fisher Scientific, a supplier of analytical instruments, clinical development solutions, speciality diagnostics, laboratory, pharmaceutical and biotechnology services, has unveiled plans to invest $2bn in its US operations over the next four years.
The investment plan comprises $1.5bn designated for capital expenditures aimed at expanding and upgrading manufacturing facilities in the US. Additionally, $500m will be channelled into R&D, concentrating on high-impact innovations.
The initiative builds upon Thermo Fisher’s existing US infrastructure, which includes 64 manufacturing sites across 37 states. These sites produce analytical instruments, speciality diagnostics, and life sciences solutions, and offer contract development and manufacturing services to pharmaceutical innovators.
Thermo Fisher facilitates the development and production of pharmaceuticals for biopharma companies on American soil. The company’s move is set to enhance innovation, manufacturing, and economic competitiveness within the life sciences industry in the country.
Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “Thermo Fisher’s commitment to US manufacturing reflects our confidence that America will continue to lead the world in science and innovation. Thermo Fisher is proud to serve as a growth engine for the American economy.
“By expanding our US operations, we ensure that life-saving medicines and therapies will continue to be developed and produced in America for decades to come.”
Since 2017, Thermo Fisher has seen its revenue grow from $21bn to $43bn, with its US workforce increasing from 28,000 to over 50,000 employees. The company allocates $1bn annually to US-based research and development.
Over the coming four years, the company intends to continue expanding by creating high-paying jobs, increasing manufacturing and laboratory services capacity, and investing further in research and development.
