U.S. lab products provider Avantor Inc AVTR.N said on Tuesday it would buy Masterflex from privately held Antylia Scientific in a $2.9 billion all-cash deal that would strengthen its COVID-19 therapy and vaccine manufacturing operations.
Illinois-based Masterflex manufactures products such as peristaltic pumps, used by pharmaceutical and biotech companies for research and production of biologic drugs, vaccines and cell and gene therapies.
Global efforts to curb the spread of the pandemic have driven a demand surge for raw materials used in vaccines and therapy production, companies such as Thermo Fisher Scientific TMO.N have said.
Avantor in April struck a $1.1 billion deal to buy German peer Ritter, which had seen heightened demand for its products used for COVID-19 PCR tests.
Avantor estimates the buyout of Masterflex to add to its adjusted earnings per share in the first year after the close of the deal, expected in the last quarter of 2021.
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