Molex has entered an agreement to acquire UK-based inhalation drug device design and formulation company Vectura Group, via its affiliate Molex Asia Holdings.
This acquisition from Vectura Fertin Pharma, a subsidiary of Philip Morris International, is expected to enhance the capabilities of Phillips Medisize, a Molex company, by bringing in specialised inhalation expertise.
Phillips Medisize president Paul Chaffin said: “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.”
Vectura is involved in the formulation and device development of dry powder inhalers (DPI), pressurised metered-dose inhalers (pMDI), and nasal and nebuliser products for biologics, small molecules, complex combinations, and generic products.
The acquisition also encompasses Vectura's services in pharmaceutical analysis, process development, technical transfer, clinical trial supplies, and regulatory services.
Molex CEO Joe Nelligan said: “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.”
The transaction is expected to be finalised by the end of 2024, following receipt of regulatory approvals and the fulfilment of other customary closing conditions.
In November 2023, Molex announced the opening of a new 23,000m² facility in Poland, aimed at significantly boosting Phillips Medisize's medical device production capacity.
Molex acquired Phillips Medisize in 2016 to grow its healthcare business at scale.
Phillips Medisize is involved in designing, engineering and manufacturing products for the pharmaceutical and wider healthcare industry.
It has over 6,000 employees and collaborates with customers at 29 sites spread across North America, Europe and Asia.
