Thermo raising prices to offset higher costs

The products include laboratory plasticware and liquid handling products. Thermo said rising raw material and energy costs are the reason for the price increases.

"We have, and continue to have, programs in place that are designed to help us mitigate these inflationary pressures and prevent us from passing added cost on to our customers," said Verner Andersen, president of the company's laboratory consumables business, in a statement. "At this point, however, these increased costs necessitate an overall change in pricing in certain product lines that are most affected."

The increases will take place Aug. 1.

Shares of Thermo Fisher fell 96 cents to close at $57.72.