Thermo Fisher Scientific’s board authorized a $5 billion open‑market share repurchase with no expiration date, expanding a prior buyback and signaling confidence after reporting $11.12 billion in Q3 revenue. The company ended the quarter with $1.98 billion in cash and cash equivalents. The buyback follows a prior $4 billion authorization from November 2024 and underscores a broader trend of large life‑science tools vendors returning capital to shareholders. Management framed the move as a balanced approach to capital allocation while continuing investment in growth initiatives. Markets will interpret the repurchase against Thermo Fisher’s M&A, R&D spending and demand in its core instrument and consumables businesses as indicators of sector health for research and diagnostics supply chains.