Thermo Fisher Scientific, the world’s biggest maker of scientific instruments, proclaimed this week that it has agreed to purchase Brammer Bio. Reportedly, the deal is finalized for approximately $1.7 Billion. Brammer Bio, a viral vector producer for cell and gene therapies, is estimated to place about $250 Million in returns for 2019, proclaimed Thermo Fisher. Marc N. Casper, President and Chief Executive, Thermo Fisher, proclaimed that Brammer Bio is supposed to be an exciting addition to the firm’s pharma services business. The latest deal is supposed to further fortify Thermo Fisher’s leadership in serving biotech and pharma customers.
Brammer, with approximately 600 staff members, is possessed by its founders and Ampersand Capital Partners, a private equity firm. Thermo Fisher proclaimed that, by the end of the 2nd quarter, it estimates to complete the transaction. So far in 2019, the firm’s stock is up approximately 18%. This situation offered the firm a market capitalization of more than $105 Billion, as per Refinitiv data.
On a similar note, Thermo Fisher came into the news as it revealed its plans to invest about $150 Million in its Pharma Services business. Reportedly, this investment is supposed to offer the additional capability for sterile liquid and lyophilized product expansion and commercial manufacturing. Included in the site development projects are Ferentino and Monza, Italy, and Greenville, North Carolina. In response to consumer requests, all the sites are supposed to be equipped with aseptic filling lines as well as isolator technology. This construction is supposed to be completed within the upcoming 24 Months period.
Michel Lagarde, President, Pharma Services, Thermo Fisher Scientific, proclaimed that the latest investments are supposed to assist expand the firm’s worldwide sterile manufacturing network. It as well intends to meet the growing requirement from customers that depend on the firm’s manufacturing expertise and biologics development. He added that the firm continues to invest to expand its abilities and assist its customers to deliver improved quality medicines to the patients who need them.