M&A Deal Summary

Thermo Fisher Scientific Acquires Covance Pharmaceutical Packaging Services

On December 26, 2000, Thermo Fisher Scientific acquired packaging company Covance Pharmaceutical Packaging Services from Covance for 138M USD

Acquisition Highlights
  • This is Thermo Fisher Scientific’s 1st transaction in the Packaging sector.
  • This is Thermo Fisher Scientific’s 24th largest (disclosed) transaction.
  • This is Thermo Fisher Scientific’s 3rd transaction in the United States.
  • This is Thermo Fisher Scientific’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2000-12-26
Target Covance Pharmaceutical Packaging Services
Sector Packaging
Buyer(s) Thermo Fisher Scientific
Sellers(s) Covance
Deal Type Divestiture
Deal Value 138M USD
Advisor(s) Lazard Ltd. (Financial)

Target

Covance Pharmaceutical Packaging Services

Allentown, New Jersey, United States
Covance Pharmaceutical Packaging Services (CPPS) is a worldwide, leading provider of contract packaging services for clinical trials to major pharmaceutical and biotechnology companies, with state-of-the-art manufacturing and packaging facilities in Allentown, Pa.; Basel, Switzerland; and Horsham, U.K.

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Buyer(S) 1

Buyer

Thermo Fisher Scientific

Waltham, Massachusetts, United States
Category Company
Founded 1956
Sector Test/Measurement Equipment
Employees80,000
Revenue 32.2B USD (2020)
DESCRIPTION
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.

Thermo Scientific is a provider of analytical instruments, laboratory equipment, software, services, consumables and reagents for better workflow solutions spanning sample preparation, sample analysis, and data interpretation. The Company was formed in 1956 and is based in Waltham, Massachusetts. Thermo Fisher Scientific was founded in 1956 and is based in Waltham, Massachusetts.

DEAL STATS #
Overall 3 of 62
Sector (Packaging) 1 of 1
Type (Divestiture) 1 of 6
State (New Jersey) 1 of 5
Country (United States) 3 of 38
Year (2000) 3 of 3
Size (of disclosed) 24 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-14 ThermoLase

Carrollton, Texas, United States

ThermoLase Corp. developer of laser technology used in hair removal, skin resurfacing, and transdermal drug delivery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-11 Dharmacon

Lafayette, United States

Dharmacon, Inc. is a supplier of innovative RNA and RNA-interference research (RNAi) products.

Buy -

Seller(S) 1

SELLER

Covance

Princeton, New Jersey, United States
Category Company
Founded 1987
Sector Life Science
Revenue 2.6B USD (2013)
DESCRIPTION

Covance is a drug development company and a provider in nutritional analysis, is dedicated to advancing healthcare and delivering Solutions Made Real. Covance was founded in 1987 and is based in Princeton, New Jersey.

DEAL STATS #
Overall 1 of 4
Sector (Packaging) 1 of 1
Type (Divestiture) 1 of 4
State (New Jersey) 1 of 1
Country (United States) 1 of 3
Year (2000) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-05 GDXI

Wauwatosa, Wisconsin, United States

GDXI, Inc. is a provider of telemedical EKG testing and information services, data management and diagnostic services in the home healthcare and other non-hospital environments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-27 Covance Cardiac Safety Services

Reno, Nevada, United States

Covance Cardiac Safety Services, Inc. processes electrocardiograms in digital environment.

Sell $35M
Mergr

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