OR WAIT null SECS
The acquisition of GlaxoSmithKline’s manufacturing site in Cork, Ireland, will expand Thermo Fisher Scientific’s global footprint for complex API manufacturing.
On May 16, 2019, Thermo Fisher Scientific announced that it has entered into a definitive agreement to acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline (GSK) for approximately EUR 90 million (US$101 million) in cash. The site will expand capacity for the development and commercial manufacturing of complex APIs.
The site has more than 400 employees and produces highly specialized APIs for treating diseases such as childhood cancer, depression, and Parkinson's. 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. Thermo Fisher reports that it 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 GSK transaction, 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.
This announcement follows the recent acquisition of Brammer Bio, a viral vector manufacturer for gene and cell therapies, in March 2019. Thermo Fisher also announced in March 2019 that it is investing $150 million to expand its sterile fill/finish sites in Monza and Ferentino, Italy, and Greenville, NC, and plans to complete the previously announced $50-million expansion of its St. Louis, MI, biologics facility in late 2019.
Source: Thermo Fisher Scientific