Thermo Fisher to buy Patheon for $7.2 billion
Thermo Fisher Scientific, the world's top scientific-instrument maker, said Monday it would buy Dutch drug ingredients maker Patheon for $7.2 billion, in an effort to expand its drug manufacturing capabilities, per Reuters. The deal will help Thermo Fisher keep a competitive edge in the industry as several drugmakers continue to cut costs and reduce drug testing times.
Money matters: According to data compiled by Bloomberg, the company's latest purchase will add to "the $22 billion in acquisitions announced by Thermo Fisher over the past five years." Thermo Fisher's current market value is roughly $67 billion in New York, while Patheon is worth about $3.8 billion.