WALTHAM, Mass., July 26 /PRNewswire-FirstCall/ -- Thermo Fisher
Scientific Inc. (NYSE: TMO), the world leader in serving science, today
announced it has entered into an agreement to acquire Qualigens Fine
Chemicals, a division of GlaxoSmithKline Pharmaceuticals Ltd. (GSK India)
based in Mumbai. Qualigens is India's largest laboratory chemical
manufacturer and supplier, serving customers in a variety of industries,
including pharmaceutical, petrochemical, and food and beverage.
"The well-established and extensive channel network of Qualigens will
make Thermo Fisher the leading supplier to India's research market,
allowing us to accelerate our growth in a country where science and
industry are moving forward at an exciting pace," said Marijn E. Dekkers,
president and chief executive officer of Thermo Fisher Scientific. "In
addition to greatly augmenting our premier Fisher Scientific customer
channel, Qualigens is an ideal complement to our bioscience reagents and
research chemicals business, enabling us to offer a wider range of products
to a broader customer base. We also expect to benefit from greater access
to local products, raw materials and manufacturing capabilities, as we
expand in India and throughout Asia."
Aside from its leading position in India in laboratory chemicals and
associated products, Qualigens markets and sells a range of diagnostic kits
under license. The business had sales of approximately USD $24 million in
2006 and has approximately 150 employees across the country. The
acquisition is expected to close early in the fourth quarter of 2007,
subject to GSK India shareholder approval and other customary closing
conditions.
Thermo Fisher Scientific has taken significant steps over the past few
years to increase its presence throughout India, adding sales and
manufacturing facilities to support growing markets, including biopharma
services and biospecimen storage, life science research and industrial
processing. The company has a state-of-the-art customer demonstration
laboratory in Mumbai that offers customers hands-on experience with its
range of laboratory solutions.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in
serving science, enabling our customers to make the world healthier,
cleaner and safer. With an annual revenue rate of more than $9 billion, we
employ 30,000 people and serve over 350,000 customers within pharmaceutical
and biotech companies, hospitals and clinical diagnostic labs,
universities, research institutions and government agencies, as well as
environmental and industrial process control settings. Serving customers
through two premier brands, Thermo Scientific and Fisher Scientific, we
help solve analytical challenges from routine testing to complex research
and discovery. Thermo Scientific offers customers a complete range of
high-end analytical instruments as well as laboratory equipment, software,
services, consumables and reagents to enable integrated laboratory workflow
solutions. Fisher Scientific provides a complete portfolio of laboratory
equipment, chemicals, supplies and services used in healthcare, scientific
research, safety and education. Together, we offer the most convenient
purchasing options to customers and continuously advance our technologies
to accelerate the pace of scientific discovery, enhance value for customers
and fuel growth for shareholders and employees alike. Visit
http://www.thermofisher.com .
The following constitutes a "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release contains
forward- looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are set
forth in the Company's Quarterly Report on Form 10-Q for the quarter ended
March 31, 2007, under the caption "Risk Factors," which is on file with the
Securities and Exchange Commission and available in the "Investors" section
of our Website under the heading "SEC Filings." We also may make
forward-looking statements about the benefits of the merger of Thermo
Electron and Fisher Scientific, including statements about future financial
and operating results, the new company's plans, objectives, expectations
and intentions and other statements that are not historical facts.
Important factors that could cause actual results to differ materially from
those indicated by forward-looking statements include risks and
uncertainties relating to: the risk that the businesses will not be
integrated successfully; the risk that the cost savings and any other
synergies from the transaction may not be fully realized or may take longer
to realize than expected; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or suppliers;
competition and its effect on pricing, spending, third-party relationships
and revenues; the need to develop new products and adapt to significant
technological change; implementation of strategies for improving internal
growth; use and protection of intellectual property; dependence on
customers' capital spending policies and government funding policies;
realization of potential future savings from new productivity initiatives;
general worldwide economic conditions and related uncertainties; the effect
of changes in governmental regulations; the effect of exchange rate
fluctuations on international operations; the effect of laws and
regulations governing government contracts; the effect of competing with
certain of our customers and suppliers; and the effect of rapid changes in
the healthcare industry. While we may elect to update forward-looking
statements at some point in the future, we specifically disclaim any
obligation to do so, even if our estimates change and, therefore, you
should not rely on these forward-looking statements as representing our
views as of any date subsequent to today.
Media Contact Information:
Lori Gorski
Phone: 781-622-1242
E-mail: lori.gorski@thermofisher.com
Investor Contact Information:
Ken Apicerno
Phone: 781-622-1111
E-mail: ken.apicerno@thermofisher.com
SOURCE Thermo Fisher Scientific Inc.
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Related links:
http://www.thermofisher.com
http://www.prnewswire.com/comp/877850.html /
CONTACT:
Media, Lori Gorski, +1-781-622-1242,
lori.gorski@thermofisher.com, or Investors, Ken Apicerno,
+1-781-622-1111, ken.apicerno@thermofisher.com, both of Thermo
Fisher Scientific Inc.
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