Baltic Countries

Thermo Fisher Scientific makes next move in consolidating market

02.07.2010

Vilnius/Waltham – The life sciences tools market is slowly being whittled down to a few major players. At the end of May, Lithuania’s largest lab supplier was the most recent target of an acquisition, when US lab giant Thermo Fisher Scientific Inc. strengthened its PCR product portfolio with Fermentas International. The company, which is headquartered in Ontario but pursues all of its research operations in Vilnius, will receive EUR212m in cash, subject to a post-closing adjustment. Thermo Fisher expects to close the transaction by September. A spokesman for the US firm said the acquisition will not have any material impact on Thermo’s 2010 result.
"With Fermentas we are better positioned to meet the demands of molecular and cell biologists for complete workflows,” said Thermo Fisher CEO Marc Casper. Fermentas is a manufacturer and global distributor of enzymes, reagents and kits for molecular and cellular biology research, and generated revenues of roughly US$54m in 2009. It provides a wide range of molecular and cellular biology research tools, including reagents for nucleic-acid and protein purification, molecular weight markers and restriction enzymes. It also provides various products for polymerase chain reaction (PCR), reverse transcription PCR and quantitative real-time PCR.
Thermo Fisher will integrate its new purchase into its Analytical Technologies Segment. Fermentas has approximately 500 employees, and had full-year revenues of approximately US$53m in 2009.

Baltic Countries

17.08.2011

Under the motto “10 Years ScanBalt Bioregion – Towards a Balanced Regional Development and Smart Specialisation in the Baltic Sea Region”, the ScanBalt Bio­Region is holding the 10th ScanBalt Forum from September 21st-23rd....

Baltic Countries

11.06.2011

Kaunas – US-based Valeant Pharmaceuticals International Inc. said in mid-May that it is purchasing an 87.2% share in Lithuanian generic drug maker Sanitas AB for EUR314m in cash, and will make a mandatory tender offer to acquire...

Baltic Countries

25.05.2011

Kaunas – US company Valeant Pharmaceuticals International, Inc. wants to purchase Lithuanian generic drug maker Sanitas AB for EUR314 million in cash. Shareholders of Sanitas have already agreed to sell Valeant 87.2% of Sanitas’...

Baltic Countries

03.11.2010

Bucharest – Plans by Romanian Environment Minister Lazlo Borbely to implement a five-year ban on GMO acreage beginning next spring have been fiercely attacked by the country’s Agriculture Minister Valeriu Tabara. Borbely has...

Baltic Countries

16.09.2010

Kopavogur – Iceland’s ORF Genetics Ltd. and the Indian company DM Corp. Pvt. Ltd. are planning to collaborate on the development, production and marketing of protein drugs. The two CEOs Björn Örvar (ORF) and Dilip Mohite (DM...

Baltic Countries

12.09.2010

Vilnius/Waltham – Lab giant Thermo Fisher Scientific has completed its EUR212m cash takeover of Lithuania‘s largest lab tools provider Fermentas Inter­na­tional. Integration of the firm into Thermo Fisher’s Analytical...

Baltic Countries

08.09.2010

Riga – According to an announcement following a meeting of senior staff in mid-August, JCS Grindeks will collaborate in product development with the Latvian Institute of Organic Synthesis (IOS). The collaboration will involve the...

Baltic Countries

09.07.2010

Riga – Latvian pharma manufacturing firm Grindeks has announced it will significantly increase revenues to EUR13.5m this year. Issued in mid-June, the prognosis was based on good sales in eastern European markets in the first...

Baltic Countries

04.06.2010

Vilnius - Thermo Fisher Scientific has bought buys Fermentas International, one of Lithiania's biggest biotechnology outfits for EUR212 million. Fermentas, with headquarters in Burlington, Canada, and principal operations in...

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