Thermo Fisher Scientific, one of the world's largest manufacturers of medicines, has announced plans to invest an additional $2 billion in its United States operations over the next four years, strengthening domestic innovation and manufacturing capabilities in the life sciences sector.
The investment package includes $1.5 billion in capital expenditures to enhance and expand U.S. manufacturing operations, complemented by $500 million dedicated to research and development focused on high-impact innovation.
"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," said Marc N. Casper, chairman, president, and CEO of Thermo Fisher Scientific. "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."
Building on Existing US Infrastructure
The new investment builds upon Thermo Fisher's extensive domestic footprint, which currently includes 64 manufacturing facilities spread across 37 states. Since 2017, the company has significantly expanded its presence in the United States, growing its workforce from 28,000 to over 50,000 employees while doubling revenue from $21 billion to $43 billion.
Thermo Fisher already invests approximately $1 billion annually in US-based R&D and plans to further strengthen its domestic operations by creating additional jobs, increasing manufacturing and laboratory services capacity, and sustaining critical research initiatives over the coming years.
Industry-Wide Trend of Domestic Investment
Thermo Fisher's announcement comes amid a wave of similar commitments from major pharmaceutical companies to expand their US manufacturing presence. Within the past month, Regeneron, Roche, Novartis, Biogen, and Johnson & Johnson have all revealed multi-billion dollar investments to significantly expand manufacturing and R&D infrastructure in the United States.
Industry analysts suggest these investments may be partially motivated by ongoing concerns about potential tariffs on the pharmaceutical industry under the Trump administration, as companies seek to strengthen their domestic production capabilities.
Recent Financial Performance
The investment announcement coincides with Thermo Fisher's release of its 2025 Q1 earnings report. According to the financial results, company revenue was $10.36 billion, essentially flat compared to the same period in 2024, with organic revenue growth of 1%. GAAP diluted earnings per share rose 15% year-over-year to $3.98, while adjusted EPS increased slightly to $5.15.
Despite a modest decline in adjusted operating income and margin, the company emphasized strong overall performance amid macroeconomic uncertainty, supported by its PPI Business System.
"We delivered very strong performance in the first quarter in a more uncertain macroeconomic environment, and I'm incredibly proud of our team's execution," said Casper. "Our team leveraged the PPI Business System to drive operational excellence and enable our customers' success."
Innovation and Expansion Initiatives
The company has recently launched several new products, including the Vulcan Automated Lab for semiconductor analysis, Olink Reveal proteomics kits for precision medicine, and energy-efficient centrifuges. Thermo Fisher has also expanded its CorEvitas platform with new clinical registries for lupus and adolescent alopecia to support real-world evidence generation.
In a strategic move to enhance its bioproduction capabilities, the company has agreed to acquire Solventum's Purification & Filtration Business for $4.1 billion in cash. Additionally, Thermo Fisher has demonstrated its financial strength by repurchasing $2 billion in shares and raising its quarterly dividend by 10%.
"Thermo Fisher is incredibly well-positioned," Casper stated. "Our experienced management team has a proven track record, and as the trusted partner to our customers, we will help them manage the current environment, identifying new opportunities and ultimately creating value for all our stakeholders."
The $2 billion investment underscores Thermo Fisher's commitment to supporting a resilient US healthcare supply chain and is expected to have significant multiplier effects across the American economy, particularly in the life sciences and biopharmaceutical sectors.
