New York, Feb 12, 2026, 14:56 ET — Regular session
- Thermo Fisher shares fell about 4% in afternoon trade, extending a multi-day slide.
- A new $3.8 billion debt deal tied to the Clario acquisition is set to settle on Feb. 12.
- Thermo Fisher also disclosed a real-world data collaboration with Datavant; a filing showed an executive VP sold stock under a pre-set trading plan.
Thermo Fisher Scientific Inc shares were down 4.3% at $504.53 in afternoon trade on Thursday, a sharp move for a large-cap name in a choppy session.
The company on Wednesday rolled out a strategic data collaboration with Datavant aimed at linking “real-world data” — information drawn from sources like medical records and registries outside traditional trials — with clinical research. “Data interoperability is critical to the next generation of evidence generation,” said Karen Kaucic, Thermo Fisher’s chief medical officer for clinical research. Datavant life sciences chief Arnaub Chatterjee said “reducing friction across the research lifecycle” was key. (Datavant)
In parallel, a prospectus supplement filed with the U.S. SEC detailed a $3.8 billion senior notes offering — corporate debt — spanning maturities from 2031 to 2046, with coupons up to 5.546%. The filing said proceeds are intended to help fund Thermo Fisher’s pending Clario acquisition, described as roughly $8.875 billion in cash at closing plus deferred and contingent payments, and noted the notes are expected to be delivered “on or about” Feb. 12. (SEC)
A separate Form 4 filing showed executive vice president Gianluca Pettiti sold 400 shares on Feb. 9 at $541.20, leaving him with about 20,752 shares directly owned. The transaction was made under a Rule 10b5-1 plan adopted in September, which allows executives to schedule trades in advance. (SEC)
The drop in Thermo Fisher came with pressure across parts of the tools-and-diagnostics group. Danaher, Waters and Agilent were also lower, while the Nasdaq-100 tracker QQQ and the S&P 500 tracker SPY were down on the day; the healthcare ETF XLV was little changed.
Thermo Fisher’s stock has now logged back-to-back declines before Thursday, and recent volume has run hot: about 3.3 million shares changed hands in Wednesday’s session, above the 50-day average cited by MarketWatch. The stock is about 18% below its 52-week high hit on Jan. 22, the same report showed. (MarketWatch)
Why it matters now is simple enough: Thermo Fisher is leaning further into clinical research services and data-heavy evidence work at the same time it lines up fresh financing for a large acquisition. That combination can raise questions about execution, timing, and the cost of capital.
But the upside case is not guaranteed. The SEC prospectus language is explicit that the financing is not conditioned on the Clario deal closing, and the acquisition still hinges on customary conditions and regulatory steps; delays can drag on sentiment even if fundamentals hold.
What traders watch next is the Feb. 12 settlement of the notes and any follow-on filings that confirm proceeds and uses, alongside clues on when Clario clears approvals and how quickly the Datavant tie-up shows up in bookings at PPD.
