Thermo Fisher Rises to Record After $3.5 Billion Phadia Buy

Thermo Fisher Scientific Inc., the largest maker of laboratory instruments, rose to a record high in New York trading after agreeing to buy Sweden’s Phadia AB to expand in testing for allergies and autoimmune diseases.

Thermo increased $2.64, or 4.2 percent, to $65.38 at 4 p.m., the shares’ highest value since they began trading on the New York Stock Exchange in 1980. The Waltham, Massachusetts-based company’s stock has gained 18 percent this year.