Thermo Fisher acquires Patheon for ￡7.2billion
Craig Bridgland
"The GxP Guy" | I help leaders regulate & resource their business (Globally regulating and resourcing for Life Science) | How we regulate and resource our life science innovators??
On August 29th Thermo Fisher completed the $7.2billion acquisition of Patheon N.V. a leading contract development and manufacturing organisation.
Patheon offers an end-to-end supply chain solution for pharmaceutical and biopharmaceutical companies of all sizes. Thermo Fisher completed the acquisition by purchasing shares at $35 cash.
Thermo Fisher has announced that it has acquired roughly 138.4 million of Patheon’s shares, representing approximately 95.3 percent of the company’s outstanding shares.
“We’re pleased to complete our acquisition of Patheon and look forward to the significant value this transaction will create for our customers and our shareholders,”
Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific.
Marc went on to explain that by adding Patheon’s complementary CDMO capabilities to their current clinical trials and bioproduction technologies. This will enable Thermo Fisher to be a stronger player in the pharmaceutical and biotechnology field.
With around 9,000 employees and multiple sites across North America and Europe, Patheon generated approximately $1.9 billion in revenue in 2016 and will enhance Thermo Fisher’s Laboratory Products and Services segment.
Although the merge has been positively received on both sides, Thermo Fisher shares took a small drop on Tuesday morning and were down $.66 at $177.77.