Thermo Fisher Scientific to acquire Patheon

Thermo Fisher Scientific has announced the acquisition of the contract development and manufacturing organisation (CDMO) Patheon in a deal worth $7.2 billion (5.55 billion pounds).

Patheon is a leading global provider of high-quality drug development and delivery solutions to pharmaceutical and biopharma clients, offering expertise to companies of all sizes meet complex development and manufacturing needs.

It is a leader in the thriving CDMO market, which is experiencing strong growth due to rising customer demand for end-to-end solutions, flexible and scalable capacity, and regulatory expertise.

Patheon's network of facilities are primarily based in North America and Europe, and the company employs approximately 9,000 people worldwide. Following the completion of the acquisition, it will become part of the firm's laboratory products and services segment.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "Patheon's development and manufacturing capabilities are an excellent complement to our industry-leading offering for the biopharma market."

It is expected that this deal will be finalised before the end of the year.

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