Thermo Fisher Buys Irish GSK Manufacturing Site
23rd May 2019
Thermo Fisher Scientific has signed a definitive agreement to acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline (GSK), for roughly €90 million in cash, expanding its capacity to develop and produce complex APIs.
With more than 400 employees, the site produces highly specialized APIs for treating diseases that include childhood cancer, depression and Parkinson's. Thermo Fisher said 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 Cork site comprises 270 m3 of reactor capacity, 10 production buildings, an R&D pilot plant and laboratory infrastructure to support process development, scale-up and physical characterization of APIs.
Michel Lagarde, senior vice president and president of Pharma Services for Thermo Fisher Scientific, said: “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.”
This transaction, Lagarde added, “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 deal, which remains subject to customary closing conditions and regulatory approvals, is expected to complete by the end of 2019. The site will then become part of Thermo Fisher's Pharma Services business within its Laboratory Products and Services Segment.
The transaction – which is the latest in a series of acquisitions and investments – follows the company’s $1.7 billion acquisition of Brammer Bio, a US manufacturer of viral vectors for gene and cell therapies. The deal was announced on Mar. 24 and closed on May 1.
Thermo Fisher added that it is currently investing $150 million to expand its sterile fill-finish sites in Monza and Ferentino, Italy, and Greenville, North Carolina, USA. It also plans to complete a $50 million expansion of its biologics facility in St. Louis, Missouri, USA, later this year.
Photo: © GlaxoSmithKline
Thermo Fisher Scientific has agreed to acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline (GSK), for roughly €90 million.
For more information visit www.chemanager-online.com/en