Thermo Fisher Invests $160M to Expand Bioproduction Capacity

Thermo Fisher Invests $160M to Expand Bioproduction Capacity
  • Thermo Fisher Scientific Inc TMO opened a new biomanufacturing facility in Chelmsford, Massachusetts. 
  • The $160 million, 85,000-square-foot facility will help meet the growing demand for the biologic materials needed to produce vaccines and breakthrough therapies for cancer and other diseases. 
  • This new site is part of Thermo Fisher’s $650 million multi-year investment to expand its bioprocessing production capabilities.
  • Related: Thermo Fisher Scientific Clocks 13% Organic Sales Growth, Over $600M In COVID Testing Sales.
  • The technologies produced at the Chelmsford site are used in the purification process of developing biotherapeutics and vaccines. 
  • When fully staffed, the Chelmsford site will employ up to 250 people across manufacturing, engineering, procurement, quality, warehousing, site leadership, and more. 
  • The new site is part of Thermo Fisher’s global bioprocessing supply network that spans 100 countries. 
  • Last week, the U.S. Department of Health and Human Services (HHS) laid out actions that include regulatory support for advanced manufacturing technologies and investments in drug production infrastructure.
  • In collaboration with the Department of Defense (DoD), HHS will invest $1 billion in bio-industrial domestic manufacturing infrastructure over five years.
  • Price Action: TMO shares are down 1.18% at $533.28 on the last check Tuesday.

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