Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of $18 billion and more than 55,000 employees globally. It is a leader in the high-growth, $40 billion CDMO market, which is fueled by growing customer demand for end-to-end solutions, flexible and scalable capacity, and regulatory expertise. You can sign up for additional alert options at any time. Nice Insight, established in 2010, is the research division of Thats Nice, A Science Agency, providing data and analysis from proprietary annual surveys, custom primary qualitative and quantitative research as well as extensive secondary research. Patheon generated approximately $1.9 billion revenues in fiscal 2016. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. Read More. Goldman Sachs & Co. and Morgan Stanley & Co. are acting as financial advisors for Thermo Fisher and Patheon, respectively. Thermo Fisher Scientific. Thermo Fisher Scientific developed a new biologics manufacturing facility in Lengnau, in the Swiss canton of Bern, to improve its pharmaceutical services capacity and manufacturing capabilities to meet the growing demand for biologic therapies. Adjusted EPS also excludes certain other gains and losses that are either isolated or cannot be expected to occur again with any regularity or predictability, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and the results of discontinued operations. The tender offer referenced herein has not yet commenced. Thermo Fisher does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort items such as the timing and amount of future restructuring actions and acquisition-related charges as well as gains or losses from sales of real estate and businesses, the early retirement of debt and the outcome of legal proceedings. The name was changed in 1993 when the company became publicly traded on the Toronto Stock Exchange. We are confident that our combined offerings and Thermo Fisher's proven track record of disciplined M&A and successful integrations will take our business to the next level. The offer to purchase all of the outstanding ordinary shares of Patheon is only being made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. If you experience any issues with this process, please contact us for further assistance. Goldman Sachs & Co. LLC is acting as financial advisor to Thermo Fisher, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel. The offer price represents a 35% premium over last week's close of Patheon's stock. Adjusted EPS also excludes certain other gains and losses that are either isolated or cannot be expected to occur again with any regularity or predictability, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and the results of discontinued operations. For more information, please visit www.thermofisher.com. According to a report by Markets and Markets,the global laboratory equipment services market is estimated to reach $11.51 billion by 2021, at a CAGR of 10.0% during 2016-2021. We believe that strategic partnerships fuel success, and we embed the elements of partnership into every operation, interaction, and step across . Zacks Investment Research, Thermo Fisher Scientific Inc (TMO) : Free Stock Analysis Report, IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report, Edwards Lifesciences Corporation (EW) : Free Stock Analysis Report, Lantheus Holdings, Inc. (LNTH) : Free Stock Analysis Report. Additional Information and Where to Find It. You can see the complete list of today's Zacks #1 Rank stocks here. We're delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths.". The stock has gained around 2.3% over the last six months. Patheon | Thermo Fisher Scientific - CA Patheon generated approximately $1.9 billion revenues in fiscal 2016. The initial offering period for the tender offer and withdrawal rights expired at 5:00 p.m., New York City time, on August 28, 2017 (the "Expiration Time"). News May 15, 2017 Barry Teater Patheon Agrees to $5.2 Billion Acquisition by Thermo Fisher Scientific Choose the right Crunchbase solution for you Start Your Free Trial With more than 60 locations around the globe, our end-to-end drug development offerings include API, biologics, viral vector services, cGMP plasmids, early- and late-phase development, clinical trial solutions . Create your Watchlist to save your favorite quotes on Nasdaq.com. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. ET today to provide more information on this announcement. After submitting your request, you will receive an activation email to the requested email address. 1 Adjusted earnings per share and adjusted operating income are non-GAAP measures that exclude certain items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures. The transaction represents a purchase price of approximately $7.2 billion, which includes the assumption of approximately $2.0 billion of net debt. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 AND THE PROXY STATEMENT WILL CONTAIN IMPORTANT INFORMATION. Global CDMO - Thermo Fisher Scientific - Patheon pharma services Delisting is likely to reduce significantly the liquidity and marketability of any Patheon ordinary shares that have not been tendered pursuant to the tender offer. On August 29, Thermo Fisher Scientific Inc. completed its acquisition of Patheon N.V., a contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion. I encourage you to get the report now - before the next wave of innovations really takes off. The stock has gained around 2.3% over the last six months. Thermo Fisher will commence a tender offer to acquire all of the issued and outstanding shares of Patheon for $35.00 per share in cash. Thermo Fisher does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort items such as the timing and amount of future restructuring actions and acquisition-related charges as well as gains or losses from sales of real estate and businesses, the early retirement of debt and the outcome of legal proceedings. In 2014, Patheon merged with DSM Pharmaceutical Products and Gallus BioPharmaceuticals, adding small and large molecule drug substance manufacturing capabilities in Europe and North America. WALTHAM, Mass. In addition, investors and shareholders of Patheon may obtain free copies of the tender offer materials by contacting D.F. Management expects to realize total synergies of approximately $120 million by year three following the close of the acquisition, consisting of approximately $90 million of cost synergies and $30 million of adjusted operating income benefit from revenue-related synergies. Want the latest recommendations from Zacks Investment Research? Thermo Fisher Scientific Introduces New Reproductive Health Assays to Webinar On Demand In August 2017, Thermo Fisher Scientific completed the acquisition of Patheon, creating the world's most comprehensive and sophisticated end-to-end CDMO partner. Thermo Fisher's (TMO) acquisition of Patheon significantly strengthens its Pharmaceutical and Biotech business by adding complementary services. We're delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths.". Thermo Fisher's initial tender offer for Patheon expires after closing of the deal at $35.00 per share in cash. 4 Surprising Tech Stocks to Keep an Eye On. Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while Lantheus Holdings and IDEXX Laboratories carry a Zacks Rank #2 (Buy). Thermo Fisher has entered into tender and support agreements with affiliates of JLL Partners and Royal DSM, whose collective holdings represent approximately 73% of Patheon shares, under which they will tender their shares in the transaction. The stock has gained 26.1% over the last six months. For more information, please visit www.thermofisher.com. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or forecasts. Patheon's commitment to quality and service excellence is directly aligned with our focus on helping our biopharma customers accelerate innovation and drive productivity.". INVESTORS AND SHAREHOLDERS OF PATHEON ARE URGED TO READ THESE DOCUMENTS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT SUCH PERSONS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR ORDINARY SHARES. Click to get this free report, Thermo Fisher Scientific Inc (TMO): Free Stock Analysis Report, IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis Report, Edwards Lifesciences Corporation (EW): Free Stock Analysis Report, Lantheus Holdings, Inc. (LNTH): Free Stock Analysis Report. Thermo Fisher Scientific (TMO) to Acquire Patheon (PTHN) for $7.2B THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND THE OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. The company expects to finance the purchase price with debt of approximately $5.2 billion and equity of approximately $2 billion. Thermo Fisher Acquires Patheon, Boosts Laboratory Products "Patheon's development and manufacturing capabilities are an excellent complement to our industry-leading offering for the biopharma market," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. Thermo Fisher expands pharma service business with $17.4 bln PPD Thermo Fisher to acquire Patheon in $7.2bn deal Based on information provided by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 138,406,058 Patheon ordinary shares, representing approximately 95.3% of the outstanding Patheon ordinary shares, had been validly tendered and had not been properly withdrawn as of the Expiration Time (excluding 176,509 ordinary shares, representing approximately 0.12% of the aggregate number of ordinary shares outstanding, tendered pursuant to guaranteed delivery procedures that have not yet been delivered in settlement or satisfaction of such guarantee). Thermo Fisher has obtained committed debt financing from Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC. Thermo Fisher will . En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Thermo Fisher to acquire Patheon for $7.2 billion - Pharmaceutical Commerce Patheon generated approximately $1.9 billion revenues in fiscal 2016. Our mission is to enable our customers to make the world healthier, cleaner and safer. ", Casper added, "We look forward to welcoming our new colleagues from Patheon to Thermo Fisher. https://www.wsj.com/articles/thermo-fisher-scientific-to-acquire-patheon-for-5-2-billion-1494850474. You must click the activation link in order to complete your subscription. All ordinary shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering holders will thereafter promptly be paid the same form and amount of offer consideration as in the initial offering period. Based on information provided by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 138,406,058 Patheon ordinary shares, representing approximately 95.3% of the outstanding Patheon ordinary shares, had been validly tendered and had not been properly withdrawn as of the Expiration Time (excluding 176,509 ordinary shares, representing approximately 0.12% of the aggregate number of ordinary shares outstanding, tendered pursuant to guaranteed delivery procedures that have not yet been delivered in settlement or satisfaction of such guarantee). The timing and amount of these items are uncertain and could be material to Thermo Fisher's results computed in accordance with GAAP. Our mission is to enable our customers to make the world healthier, cleaner and safer. Patheon acquired by Thermo Fisher Scientific articles/patheon-acquired-by-thermo-fisher-scientific, Patheon Acquired by Thermo Fisher Scientific, To complete the deal, Thermo Fisher reached independent agreements with Patheons two largest shareholders, Cell & Gene Therapy: 2023 Market Analysis, CDMO Pricing and Benchmarking, Monoclonal Antibody & Recombinant Protein: 2023 Market Analysis, CDMO Pricing and Benchmarking, mRNA Vaccines & Therapeutics: 2023 Market Analysis, CDMO Pricing and Benchmarking, Sterile Drug Product: 2023 Market Analysis, CDMO Pricing and Benchmarking, Active Pharmaceutical Ingredients: 2023 Market Analysis, CDMO Pricing and Benchmarking, Antibody Drug Conjugates: 2023 Market Analysis, CDMO Pricing and Benchmarking, Contract Research Organizations: 2023 Market Analysis, Pricing and Benchmarking, Oral Solid Dosage: 2023 Market Analysis, CDMO Pricing and Benchmarking. By signing up you agree to receive content from us. Thermo Fisher Scientific has agreed to purchase PPD, which manages clinical testing of drugs in development, for $17.4 billion. In addition, investors and shareholders of Patheon may obtain free copies of the tender offer materials by contacting the information agent for the tender offer that will be named in the tender offer statement on Schedule TO. 2023 JLL Partners. The close follows the company's initial offer for Patheon at $35 per share in cash. This copy is for your personal, non-commercial use only. According to a report by Markets and Markets ,the global laboratory equipment services market is estimated to reach $11.51 billion by 2021, at a CAGR of 10.0% during 2016-2021. When typing in this field, a list of search results will appear and be automatically updated as you type. Thermo Fisher acquires Patheon for 7.2billion - LinkedIn Thermo Fisher also announced the commencement of a subsequent offering period scheduled to expire at 12:01 a.m., New York City time, on September 13, 2017, as more fully described in the tender offer statement on Schedule TO filed by Thermo Fisher with the U.S. Securities and Exchange Commission (the "SEC") on May 31, 2017 (as amended and supplemented, the "Schedule TO"). A wealth of resources for individual investors is available at www.zacks.com. Per Thermo Fisher, the collaboration should significantly strengthen its unique value proposition for Pharmaceutical and Biotech customers by adding highly complementary services. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Thermo Fisher has announced that it has acquired roughly 138.4 million of Patheon's shares, representing approximately 95.3 percent of the company's outstanding shares. Today, Thermo Fisher is acquiring approximately 95.3% of Patheon's outstanding ordinary shares. Pat Griffin - Patheon by Thermo Fisher Scientific | ZoomInfo Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Thermo Fisher's Annual Report on Form 10-K for the year ended December 31, 2016, which is on file with the U.S. Securities and Exchange Commission ("SEC") and available in the "Investors" section of Thermo Fisher's website, ir.thermofisher.com, under the heading "SEC Filings," and in any subsequent Quarterly Reports on Form 10-Q and other documents Thermo Fisher files with the SEC, and in Patheon's Annual Report on Form 10-K for the year ended October 31, 2016 and its subsequent Quarterly Reports on Form 10-Q, including its Quarterly Report on Form 10-Q for the quarter ended January 31, 2017, each of which is on file with the SEC and available in the "Investor Relations" section of Patheon's website, ir.patheon.com, under the heading "SEC Filings," and in other documents Patheon files with the SEC. We are confident that our combined offerings and Thermo Fisher's proven track record of disciplined M&A and successful integrations will take our business to the next level. Per the last trading price, the stock has gained 4.5%, better than the broader markets decline of 0.8% in this period. Thermo Fisher to buy Patheon for $5.2 billion to expand biopharma According to Thermo Fisher President and CEO Marc Casper, Patheon's development and manufacturing capabilities are an excellent complement to [its] industry-leading offering for the biopharma market. He went on to note that combined Thermo Fisher and Patheon will offer a unique value proposition while also creating significant value for its shareholders. You must click the activation link in order to complete your subscription. Notably, Patheon is a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors. "We're pleased to complete our acquisition of Patheon and look forward to the significant value this transaction will create for our customers and our shareholders," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. Thermo Fisher Scientific has completed its $7.2 billion acquisition of CDMO Patheon, just weeks after Lonza completed its $5.5 billion buyout of capsule maker Capsugel. Thermo Fisher Acquires Patheon, Boosts Laboratory Products Patheon, built on a series of acquisitions, is snapped up by Thermo The tender offer materials (including the offer to purchase and the related letter of transmittal and the other tender offer documents), the solicitation/recommendation statement and other documents filed with the SEC by Thermo Fisher or Patheon may be obtained free of charge at the SEC's website at www.sec.gov or at Patheon's website at www.patheon.comor by contacting Patheon's investor relations department at 919-226-3165 or at Thermo Fisher's website at www.thermofisher.com or by contacting Thermo Fisher's investor relations department at 781-622-1111.