Thermo Fisher, Innoforce in pact for drug manufacturing facility in China

• Thermo Fisher Scientific (NYSE:TMO) has entered into a joint venture agreement with Innoforce, to establish a new pharma services facility in Hangzhou, China, for integrated biologics and steriles drug development and manufacturing. The new facility is expected to be completed in 2022.
• Capabilities include drug product development, biologics manufacturing, sterile fill-finish, clinical trials packaging and logistics.
• Separately, the board has also authorized share repurchase of $2.5B, with no expiration date. This replaces the company's existing repurchase authorization, of which $1B was remaining.
• https://seekingalpha.com/news/3633010-thermo-fisher-innoforce-in-pact-for-drug-manufacturing-facility-in-china