The US scientific supply company Thermo Fisher Scientific is set to buy the Dutch company Patheon NV, a pharmaceutical contract development and manufacturing company, in an acquisition totaling $5.2 billion. Both companies’ boards of directors announced the approval of the deal yesterday (May 15), disclosing that Thermo Fisher will obtain Patheon shares at $35 each, according to a news release issued by Thermo Fisher.
The Massachusetts company reached its current status as one of the world’s foremost manufacturer of scientific instruments and supplies through its acquisitions, with $22 billion in deals within the last five years, according to Bloomberg. In June of last year, for instance, Thermo bought microscope maker FEI for $4.2 billion. Patheon is valued at approximately $3.8 billion.
Through this acquisition, Bloomberg reports, Thermo Fisher aims to delve into pharmaceutical development and manufacturing, especially of biologics-based therapies. Thermo Fisher...
“Patheon's development and manufacturing capabilities are an excellent complement to our industry-leading offering for the biopharma market,” said Casper in the news release.
“Over the past several years, we have increased our capabilities to become a leading [contract development manufacturing organization] provider in a highly fragmented market,” added Patheon chief executive officer James Mullen. “We are confident that our combined offerings and Thermo Fisher’s proven track record of disciplined [mergers and acquisitions] and successful integrations will take our business to the next level.”
More recent pharmaceutical and biotech mergers: