Shares of Thermo Fisher Scientific climbed 1.4% to $615.46 Wednesday after CEO Marc Casper announced that the company’s pharma services division secured contracts linked to “reshoring” — shifting drug manufacturing back from Europe and Asia to the U.S. Speaking at the J.P. Morgan Healthcare Conference, Casper highlighted “a very big focus on reshoring” and noted that a delayed proposed 100% tariff on imported medicines has already prompted customers to accelerate projects and reconsider pricing. Evercore ISI analyst Vijay Kumar described the outlook as “constructive.” Casper also referenced Thermo’s acquisition of Sanofi’s Ridgefield, New Jersey facility last year as a capacity boost and mentioned improving biotech funding.
