Molex LLC, parent to medical supplier Phillips-Medisize LLC, has signed an agreement through its Molex Asia Holdings Ltd. affiliate to acquire Vectura Group Ltd. from Vectura Fertin Pharma Inc., a subsidiary of Philip Morris International.
"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," Paul Chaffin, president of Phillips-Medisize, said in a Sept. 17 news release.
Chippenham, England-based Vectura specializes in inhalation drug device design and formulation 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.
"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," Chaffin said.
"The acquisition of Vectura is the latest step in building an industry-leading capability in medical," Joe Nelligan, CEO of Molex, said in the release. "It also demonstrates Molex's commitment to acquiring opportunities to better serve market needs across our portfolio."
Representatives for Molex and Phillips-Medisize did not immediately respond to request for comment by Plastics News.
The acquisition is expected to close by the end of 2024, subject to regulatory approvals and other customary closing conditions.
Molex acquired Phillips-Medisize in 2016 to scale up its medical platform.
"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," Nelligan said. "We look forward to welcoming the Vectura team, who brings a celebrated reputation of inhalation expertise and experience."
Medford, Wis.-based Phillips-Medisize designs, engineers and manufactures products for the pharmaceutical drug delivery, in vitro diagnostic, medtech and broader health care industry. The company has 29 global locations with more than 6,000 in North America, Europe and Asia.