$20.9 Billion: Thermo Fisher Scientific Buys PPD
Thermo Fisher Scientific’s transformation by acquisition continues
Thermo Fisher Scientific (NYSE: TMO) has announced plans to acquire PPD (NASDAQ: PPD) for about $17.4 billion plus the assumption of PPD’s debt which stands around $3.5 billion.
The combination of the two companies pairs two global giants in healthcare diagnostics, medical research and clinical services. Thermo Fisher Scientific is an established leader in diagnostic and medical equipment technology while PPD is one of the largest contract research organizations (CROs) in the world.
PPD has 30+ years of driving advanced clinical research for its biopharma clients
Established in 1985, PPD has partnered with numerous biotech enterprises and pharmaceutical companies to help them orchestrate an array of new drug development and other healthcare research initiatives. Headquartered in Wilmington, North Carolina, PPD employs more than 20,000 people and generated about $4.7 billion in sales in 2020.
PPD provides these and other services to clients worldwide:
- Clinical data analytics and modeling
- Clinical trial patient recruitment
- Comprehensive laboratory services
- Global regulatory consulting and guidance
- Phase I through Phase IV clinical trials
- Post-approval data analytics and monitoring
PPD has proven experience in more than 20 therapeutic areas including:
- Cell and gene therapy
- Critical care
- Infectious disease
- Rare diseases
- Women’s Healthcare
PPD is known as an innovator in creating strategies, methods and processes that enable its clients to conduct new research in undeveloped areas of biopharma science and medical exploration.
Thermo Fisher Scientific’s assertive plans for growth and innovation continue
Thermo Fisher Scientific products and services are a mainstay throughout the healthcare industry; they are relied on by researchers and healthcare provider organizations for patient care support. Founded in 1956, Thermo Fisher Scientific has deep experience in these and other areas:
- Cell analysis and cell culture
- Clinical diagnostics
- DNA & RNA purification
- Polymerase chain reaction (PCR)
- Protein biology
- Synthetic biology
Based in Waltham, Massachusetts, Thermo Fisher Scientific has more than 70,000 associates and its 2020 sales were over $32 billion.
Thermo Fisher Scientific is on the move clinically and commercially
Just over a year ago the company sought to acquire Quiagen for $11.5 billion. The two companies were not able to come to a full agreement on terms and the deal was called off.
Undaunted, Thermo Fisher Scientific kicked off 2021 with two strategic acquisitions, Mesa Biotech for $550 million and Novasep’s Henogen viral vector manufacturing business unit for $874 million.
As the company integrates these organizations plus PPD, it has plenty of time in 2021 to seek other bolt-on acquisitions. Conveniently, Thermo Fisher Scientific will be able to deploy some of its diagnostic instruments for use within the organizations it has acquired while continuing to market them to other users worldwide.
The new additions including the PPD buy positions the company to even more strongly compete against its formidable traditional rivals like:
- Agilent Technologies
- Beckman Coulter
- Bio-Rad Laboratories
- Boston Scientific
It also provides them with a great opportunity to be a new leading player in the CRO healthcare industry sector. Thermo Fisher Scientific and PPD will be squaring off against these and other CRO competitors:
- ClinTec International
- PRA Health Sciences
- Syneos Health
- Wuxi Apptec
Thermo Fisher Scientific now has a much broader biosciences footprint that will enable it to widen its existing revenue streams and establish new ones on a formidable scale.
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