Thermo Fisher to acquire Sanofi’s sterile manufacturing site in New Jersey

WALTHAM, Mass. - Thermo Fisher Scientific Inc. (NYSE:TMO), a prominent player in the Life Sciences Tools & Services industry with annual revenue of $42.9 billion, announced plans to acquire Sanofi’s sterile manufacturing facility in Ridgefield, New Jersey, expanding its U.S. drug production capacity while continuing to manufacture therapies for Sanofi. According to InvestingPro data, the company maintains a robust financial health score of 2.74, indicating strong operational stability.

The transaction, expected to close in the second half of 2025 subject to customary conditions, will transfer more than 200 employees from the state-of-the-art sterile fill-finish and packaging facility to Thermo Fisher. Financial terms were not disclosed. With a market capitalization of $157.79 billion and strong profitability metrics, Thermo Fisher continues to demonstrate its market leadership. Discover more detailed financial insights and exclusive ProTips about TMO on InvestingPro.

Marc N. Casper, chairman, president and CEO of Thermo Fisher, said the acquisition will strengthen the company’s U.S. manufacturing capabilities and enable better support for pharmaceutical and biotech customers with critical production capacity for essential medicines.

The Ridgefield site will join Thermo Fisher’s existing sterile fill-finish manufacturing network, which includes facilities in Greenville, North Carolina and Plainville, Massachusetts. Upon completion, the facility will become part of Thermo Fisher’s pharma services business within its Laboratory Products and Biopharma Services segment.

Brendan O’Callaghan, global head of manufacturing & supply at Sanofi, stated the partnership expansion will help ensure continued supply of high-quality Sanofi products while maintaining the company’s commitment to American manufacturing.

The acquisition represents an extension of the strategic partnership between the two companies, according to the press release statement. Thermo Fisher plans to utilize the site to meet growing demand from pharma and biotech customers for U.S. manufacturing capacity.

Thermo Fisher Scientific, which reports annual revenue over $40 billion and maintains an EBITDA of $10.83 billion in the last twelve months, provides technologies, purchasing convenience and pharmaceutical services through brands including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For comprehensive analysis and detailed valuation metrics, access the full TMO Research Report, available exclusively on InvestingPro.

In other recent news, Thermo Fisher Scientific reported first-quarter results for 2025 that exceeded expectations for both revenue and earnings. Despite this strong performance, Scotiabank revised its price target for Thermo Fisher to $605, down from $650, while maintaining a Sector Perform rating. The adjustment accounts for challenges from new tariffs and shifts in U.S. healthcare policy. Additionally, Scotiabank upgraded Thermo Fisher’s stock rating to Sector Outperform, highlighting the company’s commercial scale and innovation leadership. In a move to reward shareholders, Thermo Fisher declared a quarterly cash dividend of $0.43 per share, payable in mid-October and July 2025. The company also announced a significant long-term incentive for its CEO, Marc N. Casper, through performance-based restricted stock units valued at approximately $60 million. This incentive is tied to Thermo Fisher’s total shareholder return relative to the S&P 500. Furthermore, Thermo Fisher plans a $2 billion investment over four years to enhance biopharmaceutical manufacturing and R&D in the U.S. These developments reflect Thermo Fisher’s ongoing strategies to navigate economic challenges and capitalize on growth opportunities.

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