WALTHAM, Mass., Sept. 7, 2018 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, has signed a definitive agreement with BD (Becton, Dickinson and Company –NYSE: BDX), a leading global medical technology company, under which Thermo Fisher will acquire BD's Advanced Bioprocessing business. This business combines a strong technical services program with a variety of peptones that enhance cell culture media formulations to improve yield and reduce variability in biopharmaceutical applications.
"Thermo Fisher has a trusted value proposition for customers who are working in biologic drug development and manufacturing," said Mark Stevenson, executive vice president and chief operating officer of Thermo Fisher Scientific. "The addition of these new capabilities will complement our bioproduction offering and strengthen our ability to serve this rapidly growing market, from development to large-scale production."
Patrick Kaltenbach, president of Life Sciences for BD, said "We are excited that our Advanced Bioprocessing team will have the opportunity to join a company with deep expertise and a long-standing commitment to supporting biopharmaceutical production. It will create new prospects, building on a 25-year history of ensuring that high-quality biopharmaceuticals get to the market quickly."
BD's Advanced Bioprocessing business has annualized revenue of approximately $100 million and will be integrated into Thermo Fisher's Life Sciences Solutions Segment.
The transaction is subject to customary closing conditions and is expected to close in early 2019.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of more than $20billion and approximately 70,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com
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SOURCE Thermo Fisher Scientific