HUDSON, Wis.--(BUSINESS WIRE)--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.
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 place. With 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.
