Organic revenue growth (non-GAAP measure) was 0% in 2024. This indicates that the company's growth is primarily driven by acquisitions rather than organic expansion.

The company acquired Olink Holding AB in July 2024 for $3.13 billion. This acquisition is expected to enhance capabilities in the high-growth proteomics market.

Sales of products related to COVID-19 testing were $0.10 billion in 2024, compared to $0.33 billion in 2023. This indicates a significant decrease in demand for COVID-19 related products.

The company estimates that charges for restructuring and related actions, which resulted in charges of approximately $0.3 billion in 2024 and $0.3 billion in 2023, will realize annual cost savings of approximately $0.2 billion and $0.6 billion, respectively.

The company continues to make strategic investments in areas such as geographic sales reach, e-commerce platforms, marketing initiatives, and research and development projects.

GAAP operating income margin and adjusted operating income margin decreased in 2024 due primarily to unfavorable business mix and strategic investments, partially offset by productivity improvements.

The business is affected by general economic conditions, both inside and outside the U.S. Both domestic and international markets experienced significant inflationary pressures in 2024 and inflation rates in the U.S., as well as in other countries in which we operate, continue at elevated levels.

International markets contribute a substantial portion of revenues, and we intend to continue expanding our presence in these regions. The exposure to fluctuations in currency exchange rates takes on different forms.

As is the case for most large global companies, we are regularly subject to cyberattacks and other cybersecurity incidents and, therefore, we incorporate cybersecurity into our overall risk management process.

The company encounters aggressive and able competition in virtually all of the markets we serve. Because of the diversity of our products and services, we face many different types of competitors and competition.

Our success primarily depends on the following factors: technical performance and advances in technology that result in new products and improved price/performance ratios.

Our success primarily depends on the following factors: product differentiation, availability and reliability; our reputation among customers as a quality provider of products and services.

Our reliance upon sole or limited sources of supply for certain materials or components could cause production interruptions, delays and inefficiencies.

We may incur unexpected costs from increases in fuel and raw material prices, which could reduce our earnings and cash flows.

Because we rely heavily on third-party package-delivery services, a significant disruption in these services or significant increases in prices may disrupt our ability to ship products, increase our costs and lower our profitability.

Our business includes the development and introduction of new products and may include entry into new business segments. We anticipate that we will continue to make significant expenditures for research and development as we seek to provide a continuing flow of innovative products to maintain and improve our competitive position.

We must develop new products, adapt to rapid and significant technological change, respond to introductions of new products by competitors and maintain quality to remain competitive.

As is the case for most large global companies, we are regularly subject to cyberattacks and other cybersecurity incidents and, therefore, we incorporate cybersecurity into our overall risk management process.

During 2024, the company's financing activities also included the repurchase of $4.00 billion of the company's common stock (7.4 million shares) and the payment of $0.58 billion in cash dividends.

On November 15, 2024, the Board of Directors announced that it replaced the existing authorization to repurchase the company's common stock, of which $1.00 billion was remaining, with a new authorization to repurchase up to $4.00 billion of the company's common stock.

The company expects that for all of 2025, expenditures for property, plant and equipment, net of disposals, will be between $1.4 billion and $1.7 billion.

We face increasing scrutiny from stakeholders related to our environmental, social and governance practices and disclosures.

We are subject to various laws and governmental regulations concerning environmental matters and employee safety and health in the United States and other countries.

The success of Thermo Fisher is fueled by colleagues who are highly engaged and feel empowered to achieve their goals. Everything we do starts with our Mission - to enable our customers to make the world healthier, cleaner and safer.

During 2024, all of our end markets were negatively impacted by a more muted macroeconomic environment and low economic activity in China.

Revenues from pharma and biotech and diagnostics and healthcare customers were also negatively impacted by reduced demand for COVID-19 related products and services.

New governmental regulations or changes in existing governmental regulations may reduce demand for our products or increase our expenses.