Thermo Fisher pays €90m for GSK manufacturing site

Thermo Fisher pays €90m for GSK manufacturing site
Credit: Shutterstock.com/ Hywit Dimyadi

Thermo Fisher Scientific is acquiring a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline for €90 million.

The Cork site will expand capacity to meet customer demand for the development and commercial manufacturing of complex active pharmaceutical ingredients (APIs).

With more than 400 employees, the site produces highly specialized APIs for treating 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.

The deal is expected to close at the end of 2019 at which time it will become part of Thermo Fisher’s Pharma Services business within its Laboratory Products and Services Segment.