Thermo Fisher Reports Strong Q3 Growth, Unveils New Products Amid Industry Shifts

Thermo Fisher Scientific, a leading biopharma service provider and supplier, has reported a 5% year-over-year increase in sales for the third quarter of 2025, generating $11.12 billion. The company's growth strategy appears to be paying dividends, with recent product launches and regulatory approvals contributing to its positive performance.

Q3 Highlights and Product Innovations

Thermo Fisher's Chairman, President, and CEO, Marc Casper, expressed satisfaction with the company's progress in executing its strategy. Notable achievements include the launch of new products, completion of complementary acquisitions, and a collaboration with OpenAI aimed at accelerating scientific advancement.

Among the recent developments, Thermo Fisher received FDA approval for its Oncomine Dx Express Test, a companion diagnostic for Dizal Pharma's Zegfrovy. This drug was approved for treating adults with locally advanced or metastatic non-small cell lung cancer exhibiting EGFR exon 20 insertion mutations.

In another significant move, the company introduced a research test designed to profile dozens of proteins associated with neurodegenerative diseases. This test aims to aid in the development of new clinical biomarkers for conditions such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, and multiple sclerosis.

Industry Challenges and Workforce Adjustments

Despite the positive financial results, Thermo Fisher has not been immune to industry-wide challenges. The company recently laid off approximately 85 employees at its California locations, reflecting a broader trend of adjustments following the decline in COVID-19-related demand.

This situation mirrors challenges faced by other industry players, such as Abbott, which reported a significant sales decline in its diagnostics division due to reduced demand for COVID-19 tests. Abbott, however, has managed to offset these losses through strong performance in its continuous glucose monitoring (CGM) division.

Future Outlook

Looking ahead, Casper remains optimistic about Thermo Fisher's prospects, stating that the company is well-positioned to achieve its 2025 objectives. He emphasized the company's commitment to driving long-term value creation for all stakeholders and building a brighter future for the organization.

As the pharmaceutical and biotech industries continue to evolve post-pandemic, companies like Thermo Fisher are adapting their strategies to focus on innovation, strategic acquisitions, and operational efficiency to maintain growth and competitiveness in the market.