By Katherine Hamilton
Thermo Fisher Scientific plans to invest $2 billion in the U.S. over the next four years to build its domestic manufacturing.
The science-services and instruments provider is expanding operations in the U.S. as companies rearrange manufacturing to avoid new global tariffs. The pharmaceutical industry has long been exempt from tariffs, but President Trump has said he is considering slapping trade duties on the sector.
The Waltham, Mass., company said Thursday it intends to spend $1.5 billion in capital expenditures to expand U.S. manufacturing facilities, plus $500 million on research and development.
Chief Executive Marc Casper said the company is committed to U.S. manufacturing and to ensuring medicines will be developed and produced in the country well into the future.
Thermo Fisher has 64 U.S. manufacturing operations across 37 states, where it makes analytical instruments and products for diagnostics and life sciences, it said. The company also provides contract development and manufacturing services for pharmaceutical companies. It has more than 50,000 U.S. employees and invests $1 billion in domestic research and development each year, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 24, 2025 08:30 ET (12:30 GMT)
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