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 The leading web portal for pharmacy resources, news, education and careers June 23, 2017
Pharmacy Choice - Pharmaceutical News - BRIEF: Durham's Patheon acquired; deal valued at $7.2 billion [The News & Observer (Raleigh, N.C.)] - June 23, 2017

Pharmacy News Article

 5/15/17 - BRIEF: Durham's Patheon acquired; deal valued at $7.2 billion [The News & Observer (Raleigh, N.C.)]

May 15Patheon, a Durham pharmaceutical services company, is being bought by Thermo Fisher Scientific at a deal valued at $7.2 billion, or $35 a share. The price includes $2 billion of debt.

Patheon raised $640 million when it went public last year.

The company manufactures and packages prescription and over-the-counter drugs for its clients, mainly biopharmaceutical companies. It also provides services such as developing formulations of experimental medicines and synthesizing chemicals for a broad range of industries.

Patheon moved its headquarters to the Triangle in 2008. The company employs about 9,000 people worldwide, including about 150 in Durham. It also has a Greenville facility, where it employs 1,000 people to manufacture sterile injectables as well as tablets and capsules.

As recently as December, the company's executives told analysts they were scouting acquisition prospects.

The deal gives Massachusetts-based Thermo Fisher a foothold in the high-growth pharmaceutical services market, which it estimates is worth about $40 billion, according to MarketWatch.

Patheon will become part of Thermo Fisher's laboratory products and services unit.

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(c)2017 The News & Observer (Raleigh, N.C.)

Visit The News & Observer (Raleigh, N.C.) at www.newsobserver.com

Distributed by Tribune Content Agency, LLC.




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