Philip Morris International Inc

NYSE:PMUnited States

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• Philip Morris International Affiliate Vectura Fertin Pharma to Sell Vectura Group to Molex, from 7 hours ago by MT Newswires

  7 hours ago by MT Newswires
  Companies Mentioned: PM
  10:16 AM EDT, 09/17/2024 (MT Newswires) -- Philip Morris International (PM) affiliate Vectura Fertin Pharma said Tuesday it is selling its Vectura Group unit to Molex Asia Holdings for an initial cash payment of 150 million British pounds ($198 mill...

• DJ Philip Morris to Take $220 Million Loss on Sale of Inhaled-Medicine Unit, from 7 hours ago by Dow Jones

  7 hours ago by Dow Jones
  Companies Mentioned: PM
  
  Philip Morris International now says that "unwarranted opposition" to its transformation has affected Vectura Group's engagement with the scientific community. "Philip Morris to Take $220 Million Loss on Sale of Inhaled-Medicine Unit" at 9:59 a.m. ET misidentified Vectura Group as Ventura Group.
  

• Press Release: Molex, a Parent to Phillips Medisize, Announces Agreement to Acquire the Vectura Group Limited, Expanding Its Drug Delivery Capabilities in Inhalation, from 8 hours ago by Dow Jones

  8 hours ago by Dow Jones
  Companies Mentioned: PM
  Molex, a Parent to Phillips Medisize, Announces Agreement to Acquire the Vectura Group Limited, Expanding Its Drug Delivery Capabilities in Inhalation -- Pharmaceutical customers and patients to benefit from the combined design, development and manufacturing services of Vectura and Phillips Medisize -- Phillips Medisize to add a market-leading position in inhalation combination product development to its existing suite of drug delivery device design capabilities -- Vectura employees to join a large global company, dedicated to improving patients' lives through innovative products and world class quality and manufacturing capabilities HUDSON, Wis.--(BUSINESS WIRE)--September 17, 2024-- Molex, a parent to Phillips Medisize, a leader in the design, engineering and manufacturing of pharmaceutical drug delivery, in vitro diagnostic and medtech devices, announced that, through its affiliate Molex Asia Holdings LTD., it has signed an agreement to purchase Vectura Group Limited (Vectura) from Vectura Fertin Pharma Inc., a subsidiary of Philip Morris International (PMI) (NYSE: PM). Vectura is a leader in inhalation drug device design and formulation, based in Chippenham, United Kingdom. "Combining the strengths of Phillips Medisize and Vectura will enhance our ability to deliver a broader portfolio of inhalation combination drug devices and solutions to our pharmaceutical customers and support our mission to help people live healthier, more productive lives," said Paul Chaffin, President of Phillips Medisize. "With our global reach, manufacturing scale, and engineering expertise, Phillips Medisize is uniquely positioned to help Vectura in developing innovative new products for their customers, ultimately benefiting people who suffer with chronic and acute diseases such as asthma and COPD." Vectura brings to Phillips Medisize its unique inhalation expertise that includes formulation and device development for dry powder inhalers (DPI), pressurized metered dose inhalers (pMDI), nasal and nebulizer products for small molecules, biologics, complex combinations and generic products. The company also offers pharmaceutical analysis, process development, technical transfer, clinical trial supplies and regulatory services. Phillips Medisize is a global company that designs, engineers and manufactures products for the pharmaceutical and broader healthcare industry. The company's 6,000+ employees collaborate with customers at 29 sites located throughout North America, Europe and Asia. Being part of Molex also allows the business to leverage market leading capabilities across a range of specialty electronics and optical fiber applications for the medical industry. "The acquisition of Vectura is the latest step in building an industry-leading capability in medical. It also demonstrates Molex's commitment to acquiring opportunities to better serve market needs across our portfolio," said Joe Nelligan, CEO of Molex, which acquired Phillips Medisize in 2016 to build a scale healthcare business. "We are excited by the significant growth potential that comes with a wider range of formulation, device design, combination product development and manufacturing services to support the increasing need for inhalation therapies. We look forward to welcoming the Vectura team, who brings a celebrated reputation of inhalation expertise and experience." The acquisition is expected to close by the end of 2024, subject to regulatory approvals and other customary closing conditions. About Phillips Medisize Phillips Medisize, a Molex company, collaborates with leading pharmaceutical, medical technology and in vitro diagnostic companies to design, engineer and manufacture life-saving innovations. A contract development and manufacturing organization (CDMO), Phillips Medisize leverages its 60 years of expertise and globally renowned capabilities to deliver products and solutions that annually help millions of patients, healthcare professionals and individuals live healthier, more productive lives. For more information, visit www.phillipsmedisize.com. About Molex Molex is a global electronics leader committed to making the world a better, more-connected place. With a presence in more than 40 countries, Molex enables transformative technology innovation in the automotive, data center, industrial automation, healthcare, 5G, cloud and consumer device industries. Through trusted customer and industry relationships, unrivaled engineering expertise, and product quality and reliability, Molex realizes the infinite potential of Creating Connections for Life. For more information, visit www.molex.com.
  

• Vectura Fertin Pharma, Inc., a Subsidiary of Philip Morris International, Announces Agreement for Sale of Vectura Group to Molex, from 8 hours ago by Dow Jones

  8 hours ago by Dow Jones
  Companies Mentioned: PM
  STAMFORD, CT--(BUSINESS WIRE)--September 17, 2024--
  Vectura Fertin Pharma, Inc., an affiliate of Philip Morris International Inc. (PMI) (NYSE: PM), today announces the sale of its subsidiary Vectura Group Ltd. (Vectura) to Molex Asia Holdings Ltd., and the establishment of master service agreements to develop Vectura Fertin Pharma's inhaled therapeutics proprietary pipeline. Vectura will be operated by Phillips Medisize, a Molex company. The sale includes upfront cash consideration of GBP 150 million, subject to customary purchase price adjustments, and potential deferred payments of up to GBP 148 million. The transaction is subject to customary closing conditions, including regulatory approval.
  

• Press Release: Vectura Fertin Pharma, Inc., a Subsidiary of Philip Morris International, Announces Agreement for Sale of Vectura Group to Molex, from 8 hours ago by Dow Jones

  8 hours ago by Dow Jones
  Companies Mentioned: PM