Contract drug manufacturer Thermo Fisher Scientific said on Tuesday it will buy Solventum's purification and filtration business for about $4.1 billion, sending the latter's shares up around 9%. The deal should allow Thermo to enter the filtration category in bioprocessing,

Thermo Fisher Scientific said Tuesday it is buying Solventum’s purification and filtration business, confirming an earlier report by The Wall Street Journal. Thermo Fisher said it is paying about $4.1 billion in cash for the business.

Solventum (NYSE: SOLV) today announced it has entered into a definitive agreement to sell its Purification & Filtration1 business to Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher") for $4.