Thermo Fisher Scientific has completed its acquisition of CorEvitas, a provider of real-world evidence for approved medical treatments and therapies, for $912.5 million.
Real-world evidence is a high growth market segment as pharmaceutical and biotechnology customers, as well as regulating bodies, are increasingly looking to monitor and evaluate the safety of approved therapies and examine their effectiveness and value in the post approval setting.
“We are very excited to welcome our new CorEvitas colleagues to Thermo Fisher,” said Marc Casper, Chairman, President and Chief Executive Officer of Thermo Fisher. “CorEvitas expands our clinical research business with highly complementary real-world evidence solutions, which is an increasingly important area and will help to enhance decision-making as well as the time and cost of drug development.”
CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment. The transaction is expected to be slightly accretive in 2023 and deliver $0.03 of adjusted earnings per share in 2024.
Edited by Diana Spencer, Senior Digital Content Editor, Drug Discovery World