Tobacco giant Philip Morris International is to move ahead with its controversial acquisition of the UK-based Vectura Group, after obtaining support for roughly three-quarters of the inhaler manufacturer’s shares, a move that renders unconditional its £1.1bn ($1.5bn) cash takeover offer.
Philip Morris Closes In On Vectura As £1.1bn Offer Passes Threshold
Takeover Steeped In Controversy, With Objections Raised By Healthcare Charities
Philip Morris once again pledged to up R&D in Vectura after its £1.1bn takeover offer for the UK-based inhalation specialist became unconditional, following the tobacco giant’s acrimonious face-off with private equity Carlyle earlier this year.
More from Deals
• By
India’s Dr Reddy’s and China’s Bio-Thera have struck a deal covering ustekinumab and golimumab biosimilars in multiple markets in south-east Asia.
• By
Cipla has bolstered its ophthalmology portfolio and increased its global offering after chalking up an agreement to add Formosa Pharmaceuticals’ USFDA-approved clobetasol propionate 0.05% ophthalmic suspension.
• By
Along with financial backing from the Canadian government, a fresh, decade-long partnership with Sandoz Canada will allow Delpharm to carry out modernization plans for its manufacturing facility in Boucherville, securing the local supply chain for sterile injectable medicines.
• By
Sweden’s Xbrane has struck a deal to transfer its R&D operations in Sweden and its Cimzia (certolizumab pegol) biosimilar candidate to Alvotech, in a transaction worth around $27m. However, Xbrane told Generics Bulletin that it was not getting out of biosimilar development altogether.
More from Business
• By
Alvotech and Advanz have announced a UK MHRA filing acceptance for their partnered AVT23 proposed biosimilar to Xolair (omalizumab).
• By
After announcing updates in its ongoing legal battle and a leadership shakeup earlier this fiscal year, Hyloris closed 2024 with a slight rise in revenue and a shrinking of its reported net loss.
• By
Cipla has bolstered its ophthalmology portfolio and increased its global offering after chalking up an agreement to add Formosa Pharmaceuticals’ USFDA-approved clobetasol propionate 0.05% ophthalmic suspension.