Thermo Fisher Scientific is nearing a deal for Solventum’s purification and filtration business, according to people familiar with the matter. A transaction is expected to value the filtration business between $3.

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,

Shares of Solventum jumped Tuesday and led S&P 500 gainers intraday after medical device maker Thermo Fisher Scientific said it would acquire the company’s purification and filtration business for $4.