Molex expands drug delivery with Vectura Group acquisition
WISCONSIN, UNITED STATES — Molex, the parent of Phillips Medisize, announced a definitive agreement to acquire Vectura Group Limited, an industry leader in inhalation drug device design and formulation based in Chippenham, United Kingdom.
Financial transactions remain confidential, but it is anticipated to bolster enhancements for Phillips Medisize in delivering pharmaceutical drug formulations, particularly inhalation combination products.
Vectura’s inhalation expertise
The acquisition will combine the global footprint and scale of manufacturing at Phillips Medisize with Vectura’s inhalation expertise.
Vectura is a formulation and device development service company that works on device development for dry powder inhalers (DPI), pressurized metered dose inhalers (pMDI), nasal, and nebulizer products. Their capabilities include small molecules, biologics, complex combinations, and generic products.
“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.”
Phillips Medisize’s global reach, manufacturing capacity
“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.
With an annual revenue of $1.4 billion, Phillips Medisize is a contract development and manufacturing organization (CDMO), which is a type of outsourcing company in the pharmaceutical and medical device industry. CDMOs provide comprehensive services to pharmaceutical, biotechnology, and medical device companies, including product development, formulation, manufacturing, packaging, and distribution.
With its operations conducted by more than 6,000 employees at 29 sites in North America, Europe, and Asia, the company engineers and manufactures products in the pharmaceutical and healthcare industry. This allows companies to focus on their core competencies while leveraging Phillips Medisize’s expertise and capabilities in areas such as drug delivery device design, engineering, and manufacturing.
Assuming the regular closing conditions and the requisite approvals by the regulatory bodies, the acquisition will likely close by the end of 2024.
