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hermo Fisher Scientific has announced its intention to buy Patheon NV.
Thermo Fisher Scientific (Waltham, Massachusetts, USA) has announced its intention to buy Patheon NV (Amsterdam, The Netherlands), a manufacturer of drugs for clinical trials, for $5.2 billion as the company seeks to expand its products and services for the biopharma industry.
Thermo Fisher Chief Executive Marc Casper described the deal as a “hand in glove fit to… our fastest growing part of the business.”
The deal is expected to be completed by the end of the year, and Casper believes the purchase will allow for greater growth potential in the long run with “very interesting opportunities to build out their footprint in AsiaâPacific.” An area Thermo Fisher feels it has yet to penetrate.
“It’s really about expanding our capabilities,” said Casper. “We want to be able to offer our customers a menu of services.”
The buyout of Patheon is expected to more than double Thermo Fisher’s sales in the biopharma market.
For more information please visit, www.thermofisher.com