Thermo Fisher Scientific (TMO) Announces Strategic Partnership Expansion With Sanofi

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best long term low volatility stocks to buy now. On July 16, Thermo Fisher Scientific Inc. (NYSE:TMO) announced plans to strategically expand its partnership with Sanofi to support additional drug product manufacturing in the United States.

As part of the partnership, Thermo Fisher Scientific Inc. (NYSE:TMO) would acquire Sanofi’s manufacturing site in Ridgefield, New Jersey, and would continue to produce and develop a portfolio of therapies for Sanofi.

Thermo Fisher Scientific Inc. (NYSE:TMO) also plans to expand use of the site to satisfy the rising demand from biotech and pharma customers for US manufacturing capacity. The Ridgefield site will join Thermo Fisher Scientific Inc. (NYSE:TMO) after the completion of the transaction, and comprises a state-of-the-art sterile fill-finish and packaging facility with over 200 employees.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides analytical instruments, reagents, equipment, software, and other services for analysis, research, diagnostics, and discovery. It operates through the Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics segments.

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Disclosure: None. This article is originally published at Insider Monkey.