Thermo Fisher Scientific Inc. has signed a definitive agreement with BD (Becton, Dickinson and Company), a leading global medical technology company, under which Thermo Fisher will acquire BD's Advanced Bioprocessing business. This business combines a strong technical services program with a variety of peptones that enhance cell culture media formulations to improve yield and reduce variability in biopharmaceutical applications.

BD's Advanced Bioprocessing business has annualized revenue of approximately $100 million and will be integrated into Thermo Fisher's Life Sciences Solutions Segment.

The transaction is subject to customary closing conditions and is expected to close in early 2019.

BD Advanced Bioprocessing includes cell culture media, supplements, and feeds designed to work in a variety of biopharmaceutical applications including the production of vaccines, monoclonal antibodies, and biosimilars, with the goals of improving yield and reducing variability.