Thermo Fisher Scientific Investments Support Rapidly Increasing Bioprocessing Production

Rhea-AI Summary

Thermo Fisher Scientific (NYSE:TMO) announced over $600 million in investments to expand its bioprocessing production capabilities through 2022. This expansion aims to more than double manufacturing capacity to support biopharma customers during COVID-19 and future vaccine developments. The investment will create over 1,500 jobs across 11 sites in the Americas, Europe, and Asia. Key areas of expansion include single-use technologies, purification resins, and cell culture media production, enhancing supply chain resilience and customer support.

Positive

• Investment of over $600 million to expand bioprocessing production capabilities.
• Creation of more than 1,500 new jobs across 11 manufacturing sites globally.
• Expansion includes key areas like single-use technologies and purification resins, enhancing supply chain resilience.

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• None.

WALTHAM, Mass., March 10, 2021 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, today announced more than $600 million in capital investments to expand its bioprocessing production capabilities through 2022. These investments are expected to more than double the company's current manufacturing capacity and support biopharma customers as they ramp up to meet both the short-term demands related to COVID-19 as well as long-term efforts to develop new vaccines and biologics for other conditions.

"As the bioprocessing market grows, our customers require a consistent and reliable supply of critical materials. Single-use technologies, cell culture media and purification resins are among those in highest demand," said Michel Lagarde, executive vice president of Thermo Fisher Scientific. "These investments add significant capacity and regional redundancy to further bolster supply chains and help us better support customers as they accelerate the commercialization of lifesaving therapies and vaccines." 

With these investments, the company expects to create more than 1,500 new jobs across 11 manufacturing sites in the Americas, Europe and Asia. Specific investments include:

Single-Use Technologies Expansions

To increase supply chain resiliency across multiple locations on three continents, Thermo Fisher's single-use technologies business is expanding capacity at sites in Logan, Utah; Millersburg, Pa.; Cramlington, U.K.; Singapore and Suzhou, China.  Additional investment at its Santa Clara, Calif. site will expand bioprocessing equipment and automation capacity.

Purification Expansions

The company will also expand its state-of-the-art POROS resin manufacturing site in Bedford, Mass. and open a new 85,000-square-foot manufacturing facility in Chelmsford, Mass. Together, these sites will reinforce Thermo Fisher's purification network that specializes in the production of process-scale chromatography resins for a variety of applications, including vaccines and gene therapies.

Cell Culture Media and Process Liquid Expansions

Investments to expand capacity at sites in Grand Island, N.Y.; Miami, Fla. and Inchinnan, Scotland will increase production of Gibco cell culture media, supplements and process liquids as well as the manufacturing of customer-owned proprietary media formulations. These investments provide redundancy to support global supply and further extend capabilities, including harmonizing dual-milling options worldwide. 

For more information, please visit www.thermofisher.com/bioprocessing.

About Thermo Fisher Scientific

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. For more information, please visit www.thermofisher.com.

Media Contact Information:
Ron O'Brien
Phone: 781-622-1242 
E-mail: ron.obrien@thermofisher.com

Investor Contact Information:
Rafael Tejada
Phone: 781-622-1356
E-mail: rafael.tejada@thermofisher.com

 

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SOURCE Thermo Fisher Scientific

FAQ

What is Thermo Fisher Scientific's stock symbol?

Thermo Fisher Scientific's stock symbol is TMO.

When did Thermo Fisher Scientific announce its investment plans?

Thermo Fisher Scientific announced its investment plans on March 10, 2021.

How much is Thermo Fisher Scientific investing to expand its bioprocessing capacities?

Thermo Fisher Scientific is investing over $600 million to expand its bioprocessing capacities.

What are the expected outcomes of Thermo Fisher Scientific's investments?

The investments are expected to double manufacturing capacity and create more than 1,500 jobs.

Where will Thermo Fisher Scientific's new manufacturing sites be located?

New manufacturing sites will be located across the Americas, Europe, and Asia.