Thermo Fisher Scientific to Acquire Manufacturing Site in Cork, Ireland, from GSK
Thermo Fisher Scientific Inc (TMO)
Last thermo fisher scientific inc earnings: 4/22 06:00 am
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Source: PR Newswire
WALTHAM, Mass., May 16, 2019 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced today that it has entered into a definitive agreement to acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline plc (NYSE: GSK) for approximately €90 million in cash. The Cork site will expand capacity to meet customer demand for the development and commercial manufacturing of complex active pharmaceutical ingredients (APIs). With more than 400 employees, the site produces highly specialized APIs for treating diseases including childhood cancer, depression and Parkinson's. Thermo Fisher 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 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 p
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