Thermo Fisher Scientific Makes $1.7 Billion Purchase to Grow CDMO Business
Waltham, MA and Cambridge, MA 3/24/19—Thermo Fisher Scientific has agreed to purchase Brammer Bio for $1.7 billion in cash. Brammer Bio is a viral vector CDMO, serving the gene therapy and gene-modified cell therapy markets. The company is expected to generate 2019 revenues of $250 million and has over 600 employees. “The combination of Brammer Bio’s viral vector capabilities with our GMP production expertise and proprietary bioprocessing and cell culture technologies uniquely positions us to partner with our customers to drive the evolution of this incredibly fast growing market,” stated Thermo Fisher Scientific President and CEO Marc Casper. In the first full year after purchase, the acquisition is expected to be accretive to adjusted EPS by $0.10 and close in the second quarter.
Brammer Bio will join Thermo Fisher’s pharma services business, part of the company’s $10 billion Laboratory Products and Services Segment. The Wall Street Journal reported that Brammer Bio is owned by Ampersand Capital Partners. Mr. Casper told the newspaper that the companies were already working together and that the CDMO market for gene and cell therapies totals $1 billion, with over 25% annual growth.