ThermoFisher Scientific plans to drive share gain, pursue targeted mergers and acquisitions (M&A), and strengthen its end-to-end offering for pharmaceutical and biotechnology customers, CEO Marc N. Casper said at the 44th Annual JP Morgan Healthcare Conference in January 2026.
In a presentation at the conference, Casper said the company generated roughly $44bn in revenue in 2025. The company expects organic revenue growth in the range of 3% to 6% for the years 2026 and 2027. Following that period, it anticipates returning to a growth rate of 7% or more in 2028 and beyond.
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In February 2025, ThermoFisher completed the acquisition of Solventum’s purification and filtration business. That business, which Casper described as “a great complement to our bioproduction” is expected to contribute approximately $750m in annual revenue, deliver single-digit organic growth, and is projected to produce $125m in synergies by year five.
The company also expanded its US drug product footprint by acquiring a manufacturing site from Sanofi, a move Casper framed as bolstering both reshoring efforts and capacity for customers: the purchase “expands our drug product capabilities in our clinical development and manufacturing organisation,” he said, noting it will accelerate production for clinical and commercial clients.
In October 2025, ThermoFisher announced a $9bn deal to acquire Clario, a provider of endpoint data solutions with advanced artificial intelligence (AI) capabilities and proprietary data assets. Management expects Clario to add roughly $1.25bn in annual revenue and to be accretive to earnings and margins, contributing positively to profitability moving forward.
Casper highlighted the strategic fit, calling Clario “an awesome business” and praising its role as “an incredibly well-respected technology provider for moving clinical development forward,” with capabilities that deliver the endpoints needed to judge a medicine’s safety and efficacy.
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By GlobalDataCasper used the acquisitions to underscore ThermoFisher’s balanced capital approach. He pointed to roughly $3bn deployed in share buybacks alongside $600m returned through dividends in the prior year, arguing the company can pursue strategic M&A while also rewarding shareholders.
Closing his presentation, Casper said the firm’s selective acquisition strategy puts ThermoFisher in a position to outgrow the market through 2026 and beyond, expanding capabilities across bioproduction, drug manufacturing, and clinical research.
