Thermo Fisher reels in $7.2 billion deal, lands big share of biotech market
Angling for a greater haul in the bullish market for biotech products, diversified medtech firm Thermo Fisher Scientific (NYSE: TMO) is to buy Netherlands-incorporated Patheon (NYSE: PTHN), a contract manufacturing organization.
Thermo Fisher will commence a tender offer to buy up shares in the company, which provides comprehensive biopharmaceutical development services, for around $7.2 billion, including $2 billion of net debt.
Patheon has developed into one of the world’s largest CMOs through a series of mergers and acquisitions, including a $2.65 billion deal with the pharmaceutical products business of Royal DSM (Euronext: DSM KON) in 2014.
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