Thermo Fisher is expecting the business to be progressive to adjust earnings per share by $0.10 in first year of ownership
Thermo Fisher Scientific, Inc has announced that it will acquire Brammer Bio, a biotechnical company, for $1.7 billion. Thermo Fisher will pay $1.7 billion in cash and expecting to close the deal by the end of second quarter of 2019.
According to Thermo Fisher Scientific, Brammer Bio has been expected to deliver $250 million of revenue for 2019 and exceed the market growth rate of 25% over the mid-term. Thermo Fisher anticipates the business to be progressive to adjust earnings per share by $0.10 in first year of ownership.
Marx N. Casper, President and Chief Executive of Thermo Fisher reportedly said that addition of Brammer Bio is exciting for them and will strengthen leadership of Thermo Fisher in serving biotech and pharma customers.
Mark Bamforth, Co-Founder, Brammer Bio, stated that they are proud to leadoff the process development and manufacturing of viral vectors. The company is excited to join Thermo Fisher and take the business to another level, he added.
For the record, Brammer Bio is owned by its founders and private equity firm Ampersand Capital Partners and has around 600 employees. The company manufactures clinical and commercial vectors for gene and cell therapies along with process and analytical development.
For the record, Thermo fisher was formed in 2006 by merger of Thermo Electron and Fisher Scientific. It is world’s largest maker of scientific instruments with 70,000 employees globally. The company works to speed up researches in life science, solve complex analytical challenges, medicine delivery to market, increase laboratory productivity and improve patient diagnostics, with mission to make world cleaner, safer and healthier.
According to the reliable sources, the stock of Thermo Fisher has increased by 18 percent in 2019, which gives it a market capitalization of $105 billion.