Thermo Fisher Scientific

RANK380

Thermo Fisher Scientific, which sells equipment, software, and services for scientific research, had a stellar 2020, lifted by huge demand for its products, such as PCR tests, during the pandemic. The lab supplier collected $6.6 billion in revenue during the year from sales of instruments and other products to more than 200 customers trying to develop COVID-19 vaccines and treatments. Overall revenue rose 26% to $32 billion, compared with the prior year, while profits soared 73% to $6.4 billion. Even with the COVID vaccine rush behind them, the company is thinking big with its $17.4 billion acquisition of contract research business PPD, which it announced in April.