Thermo Fisher's COVID-19 Revenue Will Still Stay Material With Vaccine et al

Thermo Fisher didn’t just come out of the toughest year for the global economy unscathed, the company managed to deliver its best year ever despite challenges around the economy and spending budgets. Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to be among the first to market with a reliable coronavirus test and at capacity needed to meet massive demand. The pandemic reaffirmed the company's entrenched and dominant positioning with the supply chain, which has given us enough confidence in its ability to outearn its cost of capital for the next 20 years. We think Thermo Fisher is a wide-moat business.