Thermo Fisher Scientific has signed a definitive agreement to acquire Advanced Bioprocessing business from Becton, Dickinson and Company (BD).
After the acquisition, Thermo Fisher will integrate the Advanced Bioprocessing business into its Life Sciences Solutions Segment.
Financial terms of the agreement were not disclosed. The transaction is expected to be closed early next year, subject customary closing conditions.
Thermo Fisher said the Advanced Bioprocessing combines its technical services with a variety of peptones that enhance cell culture media formulations to improve yield and reduce variability in biopharmaceutical applications.
Thermo Fisher Scientific executive vice president and chief operating officer Mark Stevenson said: “Thermo Fisher has a trusted value proposition for customers who are working in biologic drug development and manufacturing.
“The addition of these new capabilities will complement our bioproduction offering and strengthen our ability to serve this rapidly growing market, from development to large-scale production.”
BD stated that Advanced Bioprocessing has annualized revenue of about $100m. For the fiscal year 2018, the company estimates that Advanced Bioprocessing has contributed between $0.13 and $0.15 on a full-year basis.
The New Jersey-based medical device company expects to record a tax gain while the transaction is being closed.
BD life sciences president Patrick Kaltenbach said: “We are excited that our Advanced Bioprocessing team will have the opportunity to join a company with deep expertise and a long-standing commitment to supporting biopharmaceutical production. It will create new prospects, building on a 25-year history of ensuring that high-quality biopharmaceuticals get to the market quickly.”
BD said the sale of Advanced Bioprocessing business will help to focus in its Life Sciences segment where it claims to have opportunities to contribute significant towards disease and therapy research and clinical diagnostics.
BD president of life sciences Patrick Kaltenbach said: “BD remains committed to our customers in the clinical, life sciences and industrial segments and will continue to sell all of our media product offerings to these important partners.”