One of the top providers of scientific instrumentation, reagents and consumables, software, and services — announced March 10 that it is making a major investment to expand its bioprocessing production capabilities.
The Waltham, Massachusetts-based company plans to invest $600 million to more than double its current production capacity by 2022 in a move that will support biopharma customers. It’s expected to create more than 1,500 new jobs across the company’s 11 manufacturing sites in North America, Europe, and Asia.
Thermo Fisher Scientific noted the customers the investment supports are ramping up their own immediate production activity related to COVID-19, along with long-term efforts to develop new vaccines and biologics to treat other conditions.
The company said specific investments will include single-use technologies expansions, purification expansions, and cell culture media and process liquid expansions.
In a press release announcing the investment, Thermo Fisher Scientific executive vice president Michel Lagarde said single-use technologies, cell culture media, and purification resins are among the critical materials highest in demand amid the growing bioprocessing market. Besides expanding capacity, the company’s investment will reduce regional redundancy.
Thermo Fisher Scientific has annual revenue of approximately $330 billion and has more than 80,000 employees.
Story and Image Credit: Thermo Fisher Scientific