Thermo Fisher announced its intention to purchase the contract development and manufacturing organization (CDMO) Patheon in May of this year. Last month, the company raised approximately $1.5bn to fund the acquisition, which was completed at the end of August.
As part of the completed acquisition, Michel Lagarde has transitioned from president of Patheon to president of Thermo Fisher’s pharmaceutical services, which will have about 12,000 employees and serve approximately 800 clients across 70 countries.
In his new role, Lagarde told us his initial focus will be working through the integration planning process.
“Our planning teams are currently being formed and will integrate the business in the best way to serve the interests of our clients to offer end-to-end services,” he explained.
Lagarde explained that the acquisitions presents the CDMO with the opportunity to leverage Thermo Fisher’s existing offering for pharma and biotech, as well as their global customer base. “It also strengthens our position as the leading CDMO provider,” he added.
“In comparing the two companies, it is evident that both have complementary capabilities,” said added. “The pharmaceutical and biotechnology industries is fast growing and changing. We are better positioned to offer clients high-quality drug development and manufacturing solutions.”