Thermo Fisher Scientific TMO recently announced a collaboration with Project HOPE, a leading global health and humanitarian organization working on the front lines of the world’s health challenges. The partnership will focus on improving the well-being and treatment outcomes of adolescents and young persons living with HIV in Nigeria, the country with the second-largest HIV epidemic worldwide.
The partnership builds on Thermo Fisher’s collaborations with customers, governments and nonprofit organizations to create a more equitable global healthcare environment. The latest development greatly advances Project HOPE’s efforts in Northwestern Nigeria by expanding access to critical community HIV testing services.
About Project HOPE
Founded in 1958, Project HOPE’s mission lies at the epicenter of today’s greatest health challenges, including infectious and chronic diseases, disasters and health crises, maternal, neonatal and child health and the policies that impact how health care is delivered. The organization currently has an operating base in more than 25 countries worldwide.
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For more than a decade, Project HOPE has been collaborating with public, private and government partners to improve health in Nigeria. With a focus on HIV/AIDS, Project HOPE strives to support government, local partners and communities to prevent new infections and enhance health outcomes for the most vulnerable populations in line with the UNAIDS targets toward achieving epidemic control.
Significance of the Collaboration
Nigeria currently accounts for nearly two million individuals living with HIV, contributing to approximately two-thirds of new HIV infections in West and Central Africa. Thermo Fisher’s partnership with Project HOPE builds on its meaningful work in the region and allows the company to support and learn from a new cohort of essential partners to give more young people living with HIV a greater chance to explore and fulfill their life ambitions.
Supported by local community partners, Project HOPE will identify and help connect more HIV-positive adolescents and young persons with appropriate treatment and essential social and economic support services, ultimately improving their well-being and quality of life. Additionally, Thermo Fisher will engage its employees in volunteer opportunities to augment the services delivered by Project HOPE.
More on the News
This year’s World AIDS Day, observed on Dec 1 every year, celebrates the theme “Let Communities Lead” — a stark reminder to focus on individuals living with this disease and enable community partners on the frontline of driving local progress. Thermo Fisher’s previous support for Project HOPE’s initiatives in countries like Ukraine laid the foundation for the new collaboration to address infectious diseases, particularly HIV/AIDS.
For instance, in 2022, the company launched an HIV drug resistance genotyping kit with global health equity pricing — an offering that has been adopted by more than 30 low and middle-income countries across Africa, Latin America, the Middle East and Asia and has helped drive health policy changes in Kenya.
Industry Prospects
Per a Research report, the global HIV diagnostics market was valued at $985.7 million in 2022 and is expected to witness a CAGR of 5.5% in the 2023-2030 period.
Other Notable Developments
Earlier this year, Thermo Scientific B·R·A·H·M·S PlGF plus KRYPTOR and B·R·A·H·M·S sFlt-1 KRYPTOR novel biomarkers became the first and only immunoassays to receive breakthrough designation and FDA clearance for the risk assessment and clinical management of preeclampsia — a potentially life-threatening condition that disproportionately impacts pregnant Black women.
The company also partnered with Pfizer to expand local access to next-generation-sequencing-based testing for cancer patients in low and middle-income markets across Africa, Latin America, the Middle East and Asia.
Price Performance
In the past six months, TMO shares have decreased 4.3% compared with the industry’s fall of 6.5%.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. Haemonetics and DexCom each presently carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
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DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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