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Philip Morris Bid For Vectura Trumps Carlyle Takeover

UK-Based Respiratory Specialist Recommends Shareholders Back 10% Higher Offer

 
• By Dave Wallace

Tobacco giant Philip Morris International has swept in with a superior offer for the UK’s Vectura group, outbidding Carlyle after its takeover attempt was announced in May. Vectura is recommending that its shareholders back the improved offer.

Philip Morris Logo Magnifying Glass
Philip Morris has outbid Carlyle for Vectura • Source: Alamy

Private equity group Carlyle has been outbid in its attempt to take control of the UK’s Vectura group, after tobacco industry giant Philip Morris International submitted a superior offer of £1.50 ($2.06) per share. The offer represents a 10% increase over Carlyle’s offer of £1.36 per share.

Vectura – which has allied with Hikma to successfully develop and launch a US generic version of GlaxoSmithKline’s Advair Diskus (fluticasone/salmeterol) blockbuster, among other projects (Also see "Hikma Resumes Launch Of Advair Rival" - Generics Bulletin, 21 April, 2021

More from Deals

Tetris Deal Falls Into Place For UK’s Aspire

 
• By Dave Wallace

Niche generics company Aspire Pharma has struck a deal to acquire a portfolio of products from fellow UK firm Tetris Pharma as it is wound up, paying Tetris parent Arecor £0.5m for UK distribution rights and inventory.

Apotex Extends Formosa Ophthalmic Alliance Into Mexico

 
• By Dave Wallace

Apotex has expanded an alliance formed with Formosa in August for its novel clobetasol propionate ophthalmic treatment, adding Mexican rights to its existing deal for the Canadian market.

Adalvo And Gedeon Richter Join Forces On Semaglutide

 
• By Dave Wallace

Adalvo and Gedeon Richter have announced a global co-development deal for semaglutide for obesity. Adalvo CEO Anil Okay spoke to Generics Bulletin about the alliance as well as the broader competitive landscape for GLP-1s.

Sandoz And Henlius Join Forces With $300m Ipilimumab Deal

 
• By Dave Wallace

Sandoz has struck a deal worth up to $301m with Henlius giving it rights to a proposed ipilimumab biosimilar to Yervoy in countries across the world.

More from Business

‘I’ll Be Happy When We Have 40-Plus Assets’ – Sandoz Builds Up Biosimilars

 
• By Dave Wallace

With biosimilars playing an increasingly important role in Sandoz’s business, the firm’s first-quarter results call saw management lay out the latest key developments. Meanwhile, the company also addressed the issue of US tariffs, voicing optimism over both future developments as well as its ability to weather current measures.

Teva To Slash Thousands Of Jobs And Shut More Sites Under $700m Savings Plan

 
• By Dean Rudge

Teva’s plans to generate net savings of $700m by 2027 have been described by the firm as a journey and not a destination, with the suggestion that “this era of cost efficiency, harmonization, frugality will continue.”

Tetris Deal Falls Into Place For UK’s Aspire

 
• By Dave Wallace

Niche generics company Aspire Pharma has struck a deal to acquire a portfolio of products from fellow UK firm Tetris Pharma as it is wound up, paying Tetris parent Arecor £0.5m for UK distribution rights and inventory.