Phillips Medisize to Acquire Vectura, Expanding Inhalation Drug Delivery Capabilities

Global electronics company Molex, through its subsidiary Phillips Medisize, has entered into an agreement to acquire Vectura Group Limited from Philip Morris International. Vectura, based in the UK, specializes in inhalation drug delivery, including device and formulation development for dry powder inhalers, metered dose inhalers, and nebulizer products.

As a leading tobacco company, PMI faced opposition to its transformation into a ‘smoke-free future’, which had affected Vectura’s scientific engagement and commercial CDMO relationships.

The new agreement, expected to close by the end of 2024, will allow Phillips Medisize to expand its portfolio in inhalation therapies and leverage Vectura’s extensive expertise to create innovative products - such as combination drug devices for treating conditions such as asthma and COPD.

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.

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