Philip Morris International sells inhaler company Vectura

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On 19 September 2024 Philip Morris International (PMI) sold Vectura to Molex Asia Holdings Ltd, to be operated by Molex’s pharmaceutical subsidiary Phillips Medisize.

PMI bought the British pharmaceutical company, which produces inhalers, in 2021, in a controversial deal worth GBP£1.1 billion.

PMI still owns Vectura Fertin Pharma, the subsidiary it developed to operate Vectura, but has indicated it will rename the company whilst establishing a “master service agreements to develop Vectura Fertin Pharma’s inhaled therapeutics proprietary pipeline.”, according to the press release.

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