Original from: Medtechdive
Thermo Fisher flagged China as a possible headwind going into the second quarter, reflecting the potential for lockdowns to hurt its business. However, China¡¯s zero-COVID policies also benefited parts of the business, as Thermo Fisher CEO Marc Casper told investors on the quarterly results conference call.
¡°A nice chunk of the overdrive in COVID testing was in supporting the local activities. We don¡¯t sell our assays there, but we do sell our instruments and our reagents to support local demand. So, we had strong core growth and a meaningful response in China, actually larger than we typically have in China for COVID testing. The way I think about the outlook is, it should be a good market in the second half of the year. I have no doubt there will be some level of COVID disruption,¡± Casper said.
Source: Core diagnostic growth offsets falling COVID-19 sales atThermo Fisher