Tag Archives: Thermo Fisher

AmCham Financial Forum: Supply Chain Resilience & Financial Risk Developments

AmCham Financial Forum: Supply Chain Resilience & Financial Risk Developments

Leaders from AIG, Badenoch & Clark, CMS Kluge, Crawford & Company, DNB, EY, GE Healthcare, Honeywell, KPMG, Kvamme Associates, Roche, Thermo Fisher Scientific and Thommessen gathered in person at AIG’s downtown offices for AmCham’s Financial Forum.

Reflecting on supply chain resilience, the forum was kicked off by Geir Hetland, Head of Finance at Thermo Fisher Scientific. Returning from a two-year stint at the company’s Carlsbad, California facility in 2020, Hetland was faced with an instant backlog that February requiring the company to kick into “COVID speed.”

Thermo Fisher needed to quickly reallocate resources, expand production capacity and customer management to meet the sudden increase in demand, and minimize disruption in the value chain. This included companywide recruitment, adding 40 employees in Oslo alone.

Thermo Fisher reversed regular cost savings parameters to investment and rapid approval, meaning that decisions that usually took six months needed a next day turnaround. Hetland also outlined unique cross-industry collaborations to address rapid plastic scaling, as well as large scale infection testing in partnership with US universities.

AIG‘s Cyber Practice Leader Nordics & Financial Lines Manager, Tine Simonsen, joined virtually from Denmark to provide financial risk insights within several key areas, including the impact of COVID on the insurance market.

As one of the largest cyber insurance teams in the Nordics, AIG’s award-winning cyber solutions help their clients better understand and address cyber risk, including proactive services to address weaknesses – including vulnerability scanning, malicious IP blocking, and cyber prevention training.

IT criminals have quickly taken advantage of work from home regulations, with approximately 90% of cyber claims being ransom related. Simonsen detailed changes in cyber insurance and risk assessment, noting that particularly cyber decisions have moved from the IT department to the board level.

An engaging discussion ensued, with forum participants eagerly assessing risk, forecasting methods, corporate responsibility, and increased transparency throughout supply chains.

Geir Hetland – Head of Finance

Tine Simonsen – Cyber Practice Leader Nordics & Financial Lines Manager

About the AmCham Financial Forum

The AmCham Financial Forum is a platform that gives financial leaders the opportunity to interact, share best practices, and learn from each other – building a better understanding of what it takes to run a successful international finance department in Norway. For interest in participating, please contact Madeleine.Brekke@amcham.no.

CNBC: Thermo Fisher ships coronavirus tests, aims to produce 5 million tests a week by April

The first batch of government-authorized coronavirus tests from Thermo Fisher Scientific have shipped off and the “dramatic ramp up” in production has begun, CEO Marc Casper told CNBC Monday.

“We have already about 1.5 million tests in stock. We began shipping them yesterday and today,” Casper said in a “Mad Money” interview with Jim Cramer. “But we’re ramping up to about 2 million tests in production a week, and then over the course of April we’ll be able to get that to about 5 million tests a week in terms of production.”

Read entire article HERE.

San Diego Union-Tribune: Thermo Fisher set to produce test kits that can diagnose COVID-19 in four hours

Thermo Fisher Scientific, the world’s largest manufacturer of laboratory equipment, has announced that it has received emergency authorization to produce coronavirus test kits that can diagnose within four hours.

The company — based out of Waltham, Mass., with West Coast headquarters in Carlsbad — said the Food and Drug Administration’s approval late Friday will allow them to provide the high-speed tests to hospitals and laboratories, diagnosing as many as 5 million people a week, according to a statement.

“The authorization of our diagnostic test for COVID-19 will help to protect patients and enable medical staff to respond swiftly to treat those who are ill and prevent the spread of infection,” Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific, said in a statement.

Read entire article HERE.