Thermo Fisher authorizes $5 billion share repurchase program

Thermo Fisher Scientific Inc. (NYSE: TMO) announced its board of directors authorized the repurchase of $5 billion of common stock shares through open market or negotiated transactions.

The authorization carries no expiration date, according to a company statement. The repurchase program allows the company to buy back shares at its discretion.

Thermo Fisher Scientific reported annual revenue of approximately $40 billion. The company operates in life sciences research, analytical services, laboratory productivity, diagnostics, and pharmaceutical manufacturing sectors.

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