Thermo Fisher to acquire manufacturing site in Ireland

|About: GlaxoSmithKline plc (GSK)|By:, SA News Editor

Thermo Fisher Scientific (NYSE:TMO) will acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline (NYSE:GSK) for ~€90M in cash.

The site produces highly specialized active pharmaceutical ingredients (APIs) for treating diseases including childhood cancer, depression and Parkinson's.

Thermo Fisher will continue to produce APIs for GSK under a multi-year supply agreement.

The GSK transaction is expected to be completed by year end, including regulatory approvals.

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