Further expands service offering to pharma and biotech customers
- Establishes Thermo Fisher as a global leader in the attractive and high growth clinical research services industry
- Adds highly complementary services for the company's fastest growing end market
- Offers both meaningful cost and revenue synergies which will further accelerate growth
- Expected to be immediately and significantly accretive to Adjusted Earnings Per Share (EPS)¹ after close
WALTHAM, Mass.andWILMINGTON, N.C.,April 15, 2021/PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE:TMO) ("Thermo Fisher"), the world leader in serving science, and PPD, Inc. (Nasdaq:PPD) ("PPD"), a leading global provider of clinical research services to the pharma and biotech industry, today announced that their boards of directors have approved a definitive agreement under whichThermo Fisherwill acquire PPD for$47.50per share for a total cash purchase price of$17.4 billionplus the assumption of approximately$3.5 billionof net debt. This represents a premium of approximately 24% to the unaffected closing price of PPD's common stock on the Nasdaq as ofTuesday, April 13, 2021, or 32% to the 60-day VWAP inclusive of that date.
Nice Insight, established in 2010, is the research division of That’s Nice, A Science Agency, providing data and analysis from proprietary annual surveys, custom primary qualitative and quantitative research as well as extensive secondary research. Current annual surveys include The Nice Insight Contract Development & Manufacturing (CDMO/CMO), Survey The Nice Insight Contract Research - Preclinical and Clinical (CRO) Survey, The Nice Insight Pharmaceutical Equipment Survey, and The Nice Insight Pharmaceutical Excipients Survey.
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $30 billion. Our mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 80,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.