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 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.
The acquisition of Vectura by Phillips Medisize is a strategic move that will significantly impact the industry. This move signifies a shift in the focus from traditional drug delivery systems to a more innovative approach, emphasizing the development of inhalation combination drug devices and solutions. This strategic shift is driven by the growing demand for inhalation therapies, particularly in the respiratory diseases market.
Molex Medisize’s commitment to quality and innovation is evident in its comprehensive product portfolio. This portfolio includes a wide range of products, such as connectors, cables, and tubing, designed to meet the stringent requirements of the medical industry. These products are manufactured using advanced manufacturing technologies and adhere to rigorous quality control standards.
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 placeWith 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240916819174/en/ Contacts: Jeff Speer, Merryman Communications +1-916-397-5595 jeff@merrymancommunications.com