Thermo Fisher’s board of directors have approved a definitive agreement to acquire PPD for $17.4 billion plus an assumption of about $3.5 billion of net debt, according to a news release.
PPD is a company that tests experimental prescription drugs and provides lab services. Thermo Fisher said it generated a revenue of $4.7 billion in 2020. It’s set to become a part of Thermo’s laboratory products and services segment.
The transaction is expected to be completed by the end of 2021.
Read the full news release here.
More articles on supply chain:
51 best hospital, health system supply chains in North America, per GHX
Shortage of plastic growbags threatens global vaccine supply
Intermountain signs 10-year contract with Vizient
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
