Last year, Thermo Fisher expanded widely across the US and abroad. This year, however, it’s expecting a big dip in vaccine and therapeutics revenue.
The company brought in $44.92 billion in revenue last year, a growth of 15%, with revenues in the fourth quarter totaling $11.45 billion, a 7% growth from 2021. On the investment call, Thermo Fisher CEO Marc Casper said that its pharma and biotech sector had “impressive performance” with growth in the low teens for the quarter and mid-teens for the year.
Casper said that growth this year was driven by product launches and improvements to its capabilities, as well as leveraging the manufacturer’s “scale in emerging markets.”
“We continue to strengthen our capabilities serving these markets during the year and highlight a recent example. In the quarter we opened the new cGMP biologics and sterile manufacturing facility in Hangzhou, China, which…
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