Biotechnology company Thermo Fisher has announced that it is to acquire a drug substance manufacturing site from UK pharma player GlaxoSmithKline.
Pharma ingredients
Thermo Fisher will acquire GSK’s site in Cork Ireland for €90 million in an effort to expand capacity to meet customer demand for the development of complex active pharmaceutical ingredients (APIs).
The site, which includes 400 employees, produces highly specialised APIs for treating a range of 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 GSK Cork site will enhance our API offering by expanding our development and commercial capabilities to provide much-needed capacity for APIs currently in development," said Michel Lagarde, senior vice president and president of Pharma Services for Thermo Fisher Scientific. "This transaction is another great example of our strategy to build on our strong foundation by adding capacity and capabilities to our pharma services offering through a combination of capital investments and M&A."
The announcement follows a recently completed acquisition of viral vector manufacturer Brammer Bio by Thermo Fisher. Thermo Fisher is also investing $150 million to expand its sterile fill-finish sites in Monza and Ferentino, Italy, and Greenville, North Carolina, and plans to complete the previously announced $50 million expansion of its St. Louis, Missouri, biologics facility later this year.
The new GSK acquisition in expected to be completed by the end of 2019 and will become part of the Thermo Fisher’s Pharma Services business within its Laboratory Products and Services Segment.