Thermo Fisher to Buy Ireland API Plant From GlaxoSmithKline
16 Maggio 2019 - 12:40PM
Dow Jones News
By Colin Kellaher
Thermo Fisher Scientific Inc. (TMO) Thursday said it agreed to
buy a drug-substance manufacturing site in Cork, Ireland, from U.K.
drug maker GlaxoSmithKline PLC (GSK) for about 90 million euros
($101 million) in cash.
The Waltham, Mass., company said the acquisition expands its
development and commercial capabilities for active pharmaceutical
ingredients, also known as APIs.
Thermo Fisher said the Cork site, which has more than 400
employees, produces highly specialized APIs for diseases such as
childhood cancer, depression and Parkinson's.
Thermo Fisher, which expects to complete the acquisition by the
end of the year, said it will continue to produce APIs for Glaxo
under a multi-year supply agreement, adding that it will also use
the site for other customers.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 16, 2019 06:25 ET (10:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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