WALTHAM, Mass., May 16, 2019 /PRNewswire/ -- Thermo Fisher
Scientific Inc. (NYSE: TMO), the world leader in serving science,
announced today that it has entered into a definitive agreement to
acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline plc (NYSE:
GSK) for approximately €90 million in cash. The Cork site will expand capacity to meet
customer demand for the development and commercial manufacturing of
complex active pharmaceutical ingredients (APIs).
With more than 400 employees, the site produces highly
specialized APIs for treating diseases including childhood cancer,
depression and Parkinson's. Thermo
Fisher will continue to produce APIs for GSK under a
multi-year supply agreement and plans to expand use of the site to
develop and produce complex APIs for other customers as well. The
site contains 270 cubic meters of reactor capacity, 10 production
buildings, an R&D pilot plant and lab infrastructure to support
process development, scale-up and physical characterization of
APIs.
"The GSK Cork site will enhance our API offering by expanding
our development and commercial capabilities to provide much-needed
capacity for APIs currently in development," said Michel Lagarde, senior vice president and
president of Pharma Services for Thermo Fisher Scientific. "This
transaction is another great example of our strategy to
build on our strong foundation by adding capacity and
capabilities to our pharma services offering through a combination
of capital investments and M&A."
This announcement follows the recently completed acquisition of
Brammer Bio, a leader in viral
vector manufacturing for gene and cell therapies. Thermo Fisher is also investing $150 million to expand its sterile fill-finish
sites in Monza and Ferentino, Italy, and Greenville, North Carolina, and plans to
complete the previously announced $50
million expansion of its St.
Louis, Missouri, biologics facility later this year.
The GSK transaction, which is expected to be completed by the
end of 2019, is subject to customary closing conditions, including
regulatory approvals. Upon completion, the site will become part of
Thermo Fisher's Pharma Services
business within its Laboratory Products and Services Segment.
About Thermo Fisher Scientific
Thermo
Fisher Scientific Inc. is the world leader in serving science, with
revenues of more than $24 billion and
approximately 70,000 employees globally. Our mission is to enable
our customers to make the world healthier, cleaner and safer. We
help our customers accelerate life sciences research, solve complex
analytical challenges, improve patient diagnostics, deliver
medicines to market and increase laboratory productivity. Through
our premier brands – Thermo Scientific, Applied Biosystems,
Invitrogen, Fisher Scientific and Unity Lab Services – we offer an
unmatched combination of innovative technologies, purchasing
convenience and comprehensive services. For more information,
please visit www.thermofisher.com.
Media Contact Information:
Ron O'Brien
Phone: 781-622-1306
E-mail: ron.obrien@thermofisher.com
Investor Contact Information:
Ken Apicerno
Phone: 781-622-1294
E-mail: ken.apicerno@thermofisher.com
Website: www.thermofisher.com
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SOURCE Thermo Fisher Scientific