Thermo Fisher To Invest Addl. $2 Bln In U.S. To Boost Manufacturing

Thermo Fisher Scientific

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(RTTNews) - Thermo Fisher Scientific Inc. (TMO) announced Thursday its plan to invest an additional $2 billion in the United States over the next four years to boost manufacturing capacity.

The investment includes $1.5 billion in capital expenditures to enhance and expand U.S. manufacturing operations, complemented by $500 million in R&D focused on high-impact innovation.

According to the firm, these additional investments to the company's American manufacturing capacity support a resilient U.S. healthcare supply chain and will have a strong multiplier effect across the American economy.

The company invests $1 billion annually in R&D in the U.S. Over the next four years, Thermo Fisher will continue to expand its impact in the U.S. by creating high-paying jobs, adding manufacturing and lab services capacity, and investing in research and development.

The company has 64 U.S. manufacturing operations, located in 37 states.

Marc Casper, chairman, president and chief executive officer of Thermo Fisher Scientific, said, "Thermo Fisher's commitment to U.S. manufacturing reflects our confidence that America will continue to lead the world in science and innovation. … By expanding our U.S. operations, we ensure that life-saving medicines and therapies will continue to be developed and produced in America for decades to come."

In pre-market activity on the NYSE, Thermo Fisher shares were gaining around 0.8 percent to trade at $435.00.