Thermo Fisher Scientific has completed its acquisition of Patheon, a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion.

“We’re pleased to complete our acquisition of Patheon and look forward to the significant value this transaction will create for our customers and our shareholders,” said Marc Casper, president and chief executive officer, Thermo Fisher Scientific. “By adding Patheon’s highly complementary CDMO capabilities to our leading clinical trials services and bioproduction technologies, we will be an even stronger partner for our pharmaceutical and biotech customers. We’re delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths.”

Patheon generated fiscal 2016 revenue of approximately $1.9 billion and will become part of Thermo Fisher’s Laboratory Products and Services Segment.