Thermo Fisher Scientific has walked away from their $11.5B Qiagen takeover deal.

Thermo Fisher Scientific has walked away from their $11.5B Qiagen takeover deal after failing to secure shareholder support. Qiagen had experienced a boost in earnings due to coronavirus diagnostics

“The magnitude and duration of the global coronavirus pandemic have proven the increasingly critical importance of molecular testing to society. Qiagen’s business prospects have improved significantly.”

Qiagen Chief Executive Thierry Bernard.