The purchase will strengthen Avantor's offering across all bioproduction platforms, including monoclonal antibodies, cell and gene therapy, and mRNA, according to the company. It will also support manufacturing of both therapies and vaccines.

Masterflex manufactures peristaltic pumps and aseptic single-use fluid-transfer technologies. Its 2022 revenues are estimated to top approximately $300 million.

The net purchase price is expected to be $2.7 billion due to anticipated tax benefits from the transaction structure, Avantor said. Subject to customary closing conditions and applicable regulatory approvals, the deal is expected to be completed in the fourth quarter of 2021 and accretive to adjusted earnings per share within one year.

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