register

News & Trends - Medical Technology

Thermo Fisher acquisition to better serve its pharma and biotech clients

Health Industry Hub | April 21, 2021 |
[Total: 1    Average: 5/5]

MedTech News: Thermo Fisher Scientific is buying clinical research services provider PPD for a hearty $17.4 billion, and that’s not its only acquisition this year. 

The medical device maker has been spending close to $19 billion in acquisitions over the past four months. This week’s CRO acquisition announcement adds more meat to its pharma and biotech services business. 

PPD operates in close to 50 countries with over 26,000 staff offering a broad range of research and lab services to accelerate drug productivity. The Wilmington-based CRO was the chosen partner of Moderna in testing its COVID-19 vaccine.

“Pharma and Biotech is our largest and fastest growing end market, and our customers value us as a strategic partner and an industry leader. The acquisition of PPD is a natural extension for Thermo Fisher,” said Marc N. Casper, Chairman, President and CEO of Thermo Fisher Scientific. “Longer term, we plan to continue to invest in and connect the capabilities across the combined company to further help our customers accelerate innovation and drive productivity, while driving further value for our shareholders.” 

The value of CROs has certainly grown throughout a global pandemic. Drug-testing capabilities have been essential to quickly rolling out treatments and vaccines against the novel coronavirus, while companies continue pushing forward cutting-edge therapies for cancer and other disease.  

Last year, PPD generated revenues of $4.7 billion. In addition to Moderna, it also worked with Gilead on the studies done for remdesivir. 

In January of this year, Thermo Fisher acquired two new businesses. Mesa Biotech was bought out for $450 million with another $100 million on the line if certain milestones are hit. This buy added a slew of rapid point-of-care testing platforms for infectious diseases including SARS-CoV-2, Influenza A and B, RSV and Strep A.  

Just four days before that, Thermo Fisher announced the purchase of  Henogen, a viral vector manufacturing business in Belgium. The over $868 million deal added to Thermo Fisher’s push into the gene and cell therapy space begun in 2019 with the $1.7 billion buy of Brammer Bio. The company also announced significant expansion of facilities adding to its cell and gene therapy capabilities. 


About the author

About the author

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam luctus finibus scelerisque. Nunc bibendum ipsum sed augue fringilla fringilla. Nullam at consectetur leo. Praesent viverra rutrum porta. Quisque vitae mi vel purus vulputate tincidunt. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Suspendisse et mi quis nisi rhoncus feugiat at ac tellus. Sed aliquam sodales nulla ac auctor. Sed pretium lobortis purus accumsan ullamcorper. Phasellus sodales vel odio in lobortis. Duis maximus sagittis bibendum. Interdum et malesuada fames ac ante ipsum primis in faucibus. Nunc dictum tincidunt ipsum in vestibulum. Donec ut sem consectetur, aliquam quam vitae, pharetra orci. Nam egestas non velit eu rhoncus. Duis congue neque non lacus tincidunt porta. Vestibulum ultricies pulvinar sem, molestie congue dui aliquet non.
  • Ut imperdiet leo id lorem fermentum consectetur.
  • Ut vitae orci et dui varius tincidunt.
  • Ut id magna non libero vestibulum pharetra ac faucibus nulla.
Aliquam erat volutpat. Vestibulum vitae varius diam. Nulla eget congue ante. Nunc ullamcorper sagittis augue vel dictum. Mauris finibus nibh ut pulvinar auctor. Vestibulum ut faucibus nisi. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Quisque porta tortor ac justo malesuada elementum. Nulla tellus ante, cursus nec ex sit amet, suscipit bibendum arcu. Duis posuere orci dui, et mollis enim dictum at. Sed ullamcorper, sapien ut vulputate viverra, sem purus porttitor tellus, nec mattis mauris ligula sed risus. Nulla sagittis id ipsum eu mattis. Link to full profile

Digital & Innovation

Healthcare Technology Digital Innovations - Genomics industry making headlines at HealthData21

Genomics industry making headlines at HealthData21

Health Industry Hub | May 13, 2021 |

Australia’s new genomics industry alliance Industry Genomics Network Alliance (InGeNA) will bring together representatives from the key sectors of diagnostics, […]

More


News & Trends - Medical Technology

MedTech News - B. Braun launches renal care centre in NSW and QLD

B. Braun launches renal care centres in NSW and QLD

Health Industry Hub | May 13, 2021 |

MedTech News: B. Braun, one of the world’s leading providers of medical devices, dialysis products and renal care services has […]

More


News & Trends - Pharmaceuticals

Pharma News - BMS immunotherapy combo approved in aggressive thoracic cancer

BMS immunotherapy combo approved in aggressive thoracic cancer

Health Industry Hub | May 13, 2021 |

Pharma News: Bristol-Myers Squibb (BMS) welcomed the Therapeutics Goods Administration (TGA) registration of its immunotherapy combination drugs for the first-line […]

More


News & Trends - Pharmaceuticals

Pharma News - GSK bridges the skills gap between academia and pharma industry

GSK bridges the skills gap between academia and pharma industry

Health Industry Hub | May 13, 2021 |

Pharma News: Six PhD graduates have recently traded in their lab coats for laptops after landing a place in a […]

More