Thermo Fisher Buys GSK Site in Ireland
US science services company Thermo Fisher Scientific has agreed to buy GlaxoSmithKline’s (GSK) drug manufacturing site in Cork, Ireland, for roughly €90 million in cash, boosting its capacity to develop and produce complex APIs.
The site employs more than 400 people and produces highly specialized APIs for treating diseases that include 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 site comprises 270m3 of reactor capacity, 10 production buildings, an R&D pilot plant and laboratory infrastructure to support process development, scale-up and physical characterization of APIs.
“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.
This transaction, Lagarde said, “is another great example of our strategy to build on our strong foundation by adding capacity and capabilities to our pharma services offering through a combination of capital investments and M&A.”
The transaction, which remains subject to customary closing conditions and regulatory approvals, is expected to complete by the end of 2019. The site will then become part of Thermo Fisher's Pharma Services business within its Laboratory Products and Services Segment.
The transaction follows the company’s$1.7 billion acquisition of Brammer Bio, a US manufacturer of viral vectors for gene and cell therapies. The deal was announced on Mar. 24 and closed on May 1.
Thermo Fisher added that it is currently investing $150 million to expand its sterile fill-finish sites in Monza and Ferentino, Italy, and Greenville, North Carolina, USA.
It also plans to complete a $50 million expansion of its biologics facility in St. Louis, Missouri, USA, later this year.