Molex has agreed to acquire Vectura, an inhalation drug delivery company, from Philip Morris, with plans to expand its capabilities in inhaled therapeutics.
RT’s Three Key Takeaways:
- Philip Morris is selling Vectura, an inhalation drug delivery specialist, to Molex, allowing Molex to expand its capabilities in inhaled therapeutics and pharmaceutical devices.
- The acquisition includes master service agreements that will enable Vectura Fertin Pharma to continue developing its proprietary pipeline of inhaled therapeutics under a new ownership structure.
- Vectura brings expertise in inhalation drug formulation and device development for products like dry powder inhalers and metered dose inhalers, strengthening Molex’s position in the healthcare and pharmaceutical sectors.
Vectura Fertin Pharma Inc, an affiliate of Philip Morris International Inc, announced the sale of its subsidiary, Vectura Group Ltd, to Molex Asia Holdings Ltd and the establishment of master service agreements to develop Vectura Fertin Pharma’s inhaled therapeutics proprietary pipeline.
Vectura is an inhalation drug device design and formulation company based in Chippenham, United Kingdom.
“In line with our ambitions, Vectura has enabled us to develop a proprietary pipeline of inhaled therapeutics, and we remain committed to driving innovation in this space over the long term,” says Jacek Olczak, Philip Morris International chief executive officer, in a release.
Philip Morris International acquired Vectura in 2021. However, “despite the investment and commitment to developing products and therapies vital to patients, unwarranted opposition to PMI’s transformation has impacted Vectura’s scientific engagement and commercial CDMO (contract development and manufacturing organization) relationships,” reads a release from Philip Morris International.
Olczak adds in a release, “With its experience in pharmaceutical drug delivery devices and its global manufacturing footprint, Phillips Medisize is best placed to lead Vectura into the future—while releasing it from the unreasonable burden of external constraints and criticism related to our ownership.”
The remaining units of Vectura Fertin Pharma will continue to operate as a separate company under Philip Morris’ ownership and will be given a new corporate identity. This business will focus on developing and commercializing oral consumer health and wellness offerings and inhaled prescription products for therapy areas that include pain management and cardiovascular emergencies.
Vectura to Join Phillips Medisize
Vectura brings to Phillips Medisize its inhalation expertise that includes formulation and device development for dry powder inhalers, pressurized metered dose inhalers, 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. Being part of Molex also allows the business to leverage capabilities across a range of specialty electronics and optical fiber applications for the medical industry, according to a release from Phillips Medisize.
“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,” says Joe Nelligan, CEO of Molex, which acquired Phillips Medisize in 2016 to build a scale healthcare business, in a release. “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.
