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Thermo Fisher (TMO) Expands to Boost Commercial Manufacturing
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Thermo Fisher Scientific, Inc. (TMO - Free Report) is expanding early development work for oral solid dose therapies at its location in Bourgoin, France. This move demonstrates the company's dedication to assisting clients in accelerating the delivery of medications to patients by addressing workflow issues from early drug development through commercial manufacturing at that location.
The expansion of the facility in France broadens Thermo Fisher’s offerings for oral solid dose formulations.
More on the News
Thermo Fisher’s expansion in Bourgoin is built on the company's investments in small molecule solutions. The company has already made investments in small molecule solutions, including manufacturing and development services for oral solid doses in Bend, OR; Greenville, NC; Cincinnati, OH; Manat, Puerto Rico; Toronto, Canada; and Whitby and Milton Park, the U.K.
The early development hub contains enhanced good manufacturing practises (GMP) capabilities and a 430 square meter (4,600 square foot) research and development facility for non-GMP pre-clinical operations.
Benefits of the Expanded Facility
With 126 new medicine approvals supported, Thermo Fisher has pioneered and expanded the field of oral solid dosage development in the last decade. By strengthening its capabilities in France, the company will be able to expand its global oral solid network and relationships with clients who rely on the development and commercial manufacture of life-saving medications for their patients.
Image Source: Zacks Investment Research
For the complete development of oral solid dose pharmaceutical products and the handling of highly strong substances, Bourgoin is a Thermo Fisher center of competence in Europe. The facility has the potential to produce tablets, capsules, and granules using all common oral solid dose manufacturing equipment as well as more specialized technologies like compaction and compression-contained simulation and Accelerated Stability Assessment Program (ASAP) simulation.
Industry Prospects
Per a report by Grand View Research, the global oral solid dosage contract manufacturing market size was $31.9 billion in 2021 and is anticipated to exhibit a CAGR of 6.0%. An increase in the advancement of drug delivery technology, such as targeted drug delivery and sustained release dosage forms, rising investments by CDMOs to expand the oral solid dosage (OSD) development and increasing demand for novel therapies are driving the market.
Expansion of Facilities Continues
Thermo Fisher is currently expanding its bioproduction purification resin capacity, which is used in the mRNA manufacturing process. In the fourth quarter, the company opened new manufacturing sites in China and Singapore to enhance the capacity for single-use technology. These new sites are intended to meet local and global demand from biopharma customers. In South Korea, the company continues to enhance local capabilities with customer-focused innovation centers for the semiconductor industry and biopharma customers.
In December 2022, Thermo Fisher announced the expansion of its global Biologics and Steriles manufacturing with the opening of a new facility in Hangzhou, China. The new facility will support pharmaceutical and biotechnology customers to deliver patient’s therapies more quickly.
Price Performance
Shares of the company have gained 0.6% in the past six months against the industry’s fall of 13.8%.
Zacks Rank and Other Key Picks
Thermo Fisher carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
Hologic has inched up 8.6% against the industry’s 13.8% fall in the past year.
Henry Schein, carrying a Zacks Rank #1 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched the same in the other, the average beat being 2.9%.
Henry Schein has lost 7.9% compared with the industry’s 4% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 4.3% compared with the industry’s 13.9% decline in the past year.
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Thermo Fisher (TMO) Expands to Boost Commercial Manufacturing
Thermo Fisher Scientific, Inc. (TMO - Free Report) is expanding early development work for oral solid dose therapies at its location in Bourgoin, France. This move demonstrates the company's dedication to assisting clients in accelerating the delivery of medications to patients by addressing workflow issues from early drug development through commercial manufacturing at that location.
The expansion of the facility in France broadens Thermo Fisher’s offerings for oral solid dose formulations.
More on the News
Thermo Fisher’s expansion in Bourgoin is built on the company's investments in small molecule solutions. The company has already made investments in small molecule solutions, including manufacturing and development services for oral solid doses in Bend, OR; Greenville, NC; Cincinnati, OH; Manat, Puerto Rico; Toronto, Canada; and Whitby and Milton Park, the U.K.
The early development hub contains enhanced good manufacturing practises (GMP) capabilities and a 430 square meter (4,600 square foot) research and development facility for non-GMP pre-clinical operations.
Benefits of the Expanded Facility
With 126 new medicine approvals supported, Thermo Fisher has pioneered and expanded the field of oral solid dosage development in the last decade. By strengthening its capabilities in France, the company will be able to expand its global oral solid network and relationships with clients who rely on the development and commercial manufacture of life-saving medications for their patients.
For the complete development of oral solid dose pharmaceutical products and the handling of highly strong substances, Bourgoin is a Thermo Fisher center of competence in Europe. The facility has the potential to produce tablets, capsules, and granules using all common oral solid dose manufacturing equipment as well as more specialized technologies like compaction and compression-contained simulation and Accelerated Stability Assessment Program (ASAP) simulation.
Industry Prospects
Per a report by Grand View Research, the global oral solid dosage contract manufacturing market size was $31.9 billion in 2021 and is anticipated to exhibit a CAGR of 6.0%. An increase in the advancement of drug delivery technology, such as targeted drug delivery and sustained release dosage forms, rising investments by CDMOs to expand the oral solid dosage (OSD) development and increasing demand for novel therapies are driving the market.
Expansion of Facilities Continues
Thermo Fisher is currently expanding its bioproduction purification resin capacity, which is used in the mRNA manufacturing process. In the fourth quarter, the company opened new manufacturing sites in China and Singapore to enhance the capacity for single-use technology. These new sites are intended to meet local and global demand from biopharma customers. In South Korea, the company continues to enhance local capabilities with customer-focused innovation centers for the semiconductor industry and biopharma customers.
In December 2022, Thermo Fisher announced the expansion of its global Biologics and Steriles manufacturing with the opening of a new facility in Hangzhou, China. The new facility will support pharmaceutical and biotechnology customers to deliver patient’s therapies more quickly.
Price Performance
Shares of the company have gained 0.6% in the past six months against the industry’s fall of 13.8%.
Zacks Rank and Other Key Picks
Thermo Fisher carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has inched up 8.6% against the industry’s 13.8% fall in the past year.
Henry Schein, carrying a Zacks Rank #1 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched the same in the other, the average beat being 2.9%.
Henry Schein has lost 7.9% compared with the industry’s 4% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 4.3% compared with the industry’s 13.9% decline in the past year.