Massachusetts-based biotechnology product development company Thermo Fisher Scientific Inc. has agreed to acquire peer Brammer Bio in an approximately $1.7 billion cash move.
The company said that the acquisition of Brammer Bio will further reinforce Thermo Fisher’s leadership in serving pharmaceutical and biotechnology customers.
Thermo Fisher also said that Brammer Bio is expected to post $250 million in revenue for 2019. Thermo Fisher’s stock is up around 18 percent so far in 2019, giving it a market capitalization of just over $105 billion.
The transaction is expected to be finalized by the end of the second quarter.