Thermo Fisher Extends Binge With $5.2 Billion Patheon Deal
by
Ed Hammond
Patheon will bring not just any medicine ingredients, but the more complex and harder to produce type grown out of living cells. Such biological therapies are increasingly important to drugmakers facing intense competitive pressure, and companies that have pioneered the therapies are now turning to contractors like Patheon to manage costs or make production more efficient.
Patheon's stock jumped to $34.73 before the U.S. markets opened on Monday. Through Friday, the shares had risen 24 percent since they were sold in an initial public offering in July at $21 each on the New York Stock Exchange. Thermo Fisher’s deal offers a quick post-IPO exit for buyout firm JLL Partners and Dutch vitamin company Royal DSM NV, Patheon’s two biggest shareholders. . . the shares of Thermo Fisher have more than tripled in the past five years, outperforming both the Standard & Poor’s 500 Index and peers. The Waltham, Massachusetts-based company, with a market value of more than $67 billion, now offers equipment, instruments and supplies to laboratories and medical research facilities and is a major player in technology used to sequence the human genome.
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