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Thermo Fisher Scientific has completed the previously announced acquisition of Patheon for approximately $7.2 billion.
On Aug. 29, 2017, Thermo Fisher Scientific announced its completed acquisition of Patheon, a contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion. The close follows the company’s initial offer for Patheon at $35 per share in cash.
"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," said Marc Casper, CEO and president of Thermo Fisher Scientific, in a company press release. "By adding Patheon's highly complementary CDMO capabilities to our leading clinical trials services and bioproduction technologies, we will be an even stronger partner for our pharmaceutical and biotech customers. We're delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths."
Having generated fiscal 2016 revenue of approximately $1.9 billion, Patheon will become part of Thermo Fisher's laboratory products and services segment.
Source: Thermo Fisher Scientific