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Thermo Fisher (TMO) Extends Collaboration With Moderna
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Thermo Fisher Scientific, Inc. (TMO - Free Report) recently entered into a 15-year strategic collaboration agreement with Moderna (MRNA - Free Report) to enable dedicated commercial large-scale manufacturing capacity for Spikevax, Moderna’s COVID-19 vaccine, and other investigational mRNA medicines in Moderna’s pipeline in the United States. The recent development is likely to fortify Thermo Fisher’s bioproduction business.
Few Words on Moderna
Moderna has transformed from a research-stage company advancing programs in the field of mRNA to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities.
Moderna's mRNA platform is built on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases.
More on the News
Thermo Fisher continues to be a trusted partner of Moderna, bringing a wide range of products and services that have allowed Moderna to deliver innovative medicines at an extraordinary speed and scale.
Thermo Fisher has been partners with Moderna over the past several years to aid its development pipeline with both clinical research and contract manufacturing services. This included the quick scale-up of aseptic fill-finish services and packaging of its COVID-19 vaccine.
Significance of the Collaboration
Moderna’s innovation in mRNA technology has been crucial in the global response to the pandemic. With the expansion of collaboration, Moderna will further leverage Thermo Fisher’s scale and depth of capabilities to continue to transform its mRNA platform and bring new breakthrough medicines to patients worldwide.
Image Source: Zacks Investment Research
As part of the expanded agreement, Thermo Fisher will now offer dedicated capacity for a range of aseptic fill-finish services including lyophilized and liquid filling. Additionally, the company will offer inspection, labeling and final packaging services.
Industry Prospects
Per a report by BCC Research, the global market for mRNA therapeutics was $46.7 billion in 2021 and is expected to reach $101.3 billion by 2026, at a CAGR of 16.8%.
The rising prevalence of medical ailments, such as diabetes, tuberculosis, cancer and cardiovascular diseases (CVDs), the increasing demand for therapeutic medicines and vaccines for Ebola, influenza, Human Immunodeficiency Virus (HIV) and other viral infections are the major factors driving the market.
Progress with Bioproduction Business
Thermo Fisher’s Gibco Cell Culture for Bioprocessing, Chromatography and Protein Purification are in high demand. During the fourth quarter of 2021, Thermo Fisher launched a high-performer DynaDrive Single-Use Bioreactor within the bioproduction business. This latest breakthrough in the company’s DynaDrive single-use bioreactor technology delivers the benefits of single-use technologies to unprecedented volumes and performance, ensuring consistent scalability from pilot-scale studies through commercial production.
Thermo Fisher is currently expanding its bioproduction purification resin capacity, which is used in the mRNA manufacturing process. In the fourth quarter, the company opened new manufacturing sites in China and Singapore to enhance the capacity for single-use technology. These new sites are intended to meet both the local and global demand from biopharma customers. Meanwhile, in South Korea, the company continues to enhance local capabilities with customer-focused innovation centers for the semiconductor industry and biopharma customers.
Price Performance
Shares of the company have gained 19.6% in a year compared with the industry's fall of 7.2%.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) and Henry Schein, Inc. (HSIC - Free Report) .
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average. You can see the complete list of today's Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 42.8% versus the 55.7% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. HSIC’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #1.
Henry Schein has gained 35.3% compared with the industry’s 10.3% rise over the past year.
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Thermo Fisher (TMO) Extends Collaboration With Moderna
Thermo Fisher Scientific, Inc. (TMO - Free Report) recently entered into a 15-year strategic collaboration agreement with Moderna (MRNA - Free Report) to enable dedicated commercial large-scale manufacturing capacity for Spikevax, Moderna’s COVID-19 vaccine, and other investigational mRNA medicines in Moderna’s pipeline in the United States. The recent development is likely to fortify Thermo Fisher’s bioproduction business.
Few Words on Moderna
Moderna has transformed from a research-stage company advancing programs in the field of mRNA to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities.
Moderna's mRNA platform is built on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases.
More on the News
Thermo Fisher continues to be a trusted partner of Moderna, bringing a wide range of products and services that have allowed Moderna to deliver innovative medicines at an extraordinary speed and scale.
Thermo Fisher has been partners with Moderna over the past several years to aid its development pipeline with both clinical research and contract manufacturing services. This included the quick scale-up of aseptic fill-finish services and packaging of its COVID-19 vaccine.
Significance of the Collaboration
Moderna’s innovation in mRNA technology has been crucial in the global response to the pandemic. With the expansion of collaboration, Moderna will further leverage Thermo Fisher’s scale and depth of capabilities to continue to transform its mRNA platform and bring new breakthrough medicines to patients worldwide.
As part of the expanded agreement, Thermo Fisher will now offer dedicated capacity for a range of aseptic fill-finish services including lyophilized and liquid filling. Additionally, the company will offer inspection, labeling and final packaging services.
Industry Prospects
Per a report by BCC Research, the global market for mRNA therapeutics was $46.7 billion in 2021 and is expected to reach $101.3 billion by 2026, at a CAGR of 16.8%.
The rising prevalence of medical ailments, such as diabetes, tuberculosis, cancer and cardiovascular diseases (CVDs), the increasing demand for therapeutic medicines and vaccines for Ebola, influenza, Human Immunodeficiency Virus (HIV) and other viral infections are the major factors driving the market.
Progress with Bioproduction Business
Thermo Fisher’s Gibco Cell Culture for Bioprocessing, Chromatography and Protein Purification are in high demand. During the fourth quarter of 2021, Thermo Fisher launched a high-performer DynaDrive Single-Use Bioreactor within the bioproduction business. This latest breakthrough in the company’s DynaDrive single-use bioreactor technology delivers the benefits of single-use technologies to unprecedented volumes and performance, ensuring consistent scalability from pilot-scale studies through commercial production.
Thermo Fisher is currently expanding its bioproduction purification resin capacity, which is used in the mRNA manufacturing process. In the fourth quarter, the company opened new manufacturing sites in China and Singapore to enhance the capacity for single-use technology. These new sites are intended to meet both the local and global demand from biopharma customers. Meanwhile, in South Korea, the company continues to enhance local capabilities with customer-focused innovation centers for the semiconductor industry and biopharma customers.
Price Performance
Shares of the company have gained 19.6% in a year compared with the industry's fall of 7.2%.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) and Henry Schein, Inc. (HSIC - Free Report) .
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average. You can see the complete list of today's Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 42.8% versus the 55.7% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. HSIC’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #1.
Henry Schein has gained 35.3% compared with the industry’s 10.3% rise over the past year.