Philip Morris Archives - Medical Design Sourcing

Philip Morris appoints 2 former FDA officials as it pushes ‘smoke-free’ development

Cigarette maker Philip Morris (NYSE:PM) announced today that it appointed two former FDA officials to leadership positions.

Dr. Badrul Chowdhury is the company’s new chief life sciences officer for smoke-free products. Dr. Matthew Holman joins as VP of U.S. scientific engagement and regulatory strategy.

Both appointments fall in line with the company’s efforts to push its science-based transition to “smoke-free” technology. Last year, the multinational tobacco company agreed to acquire inhaled drug delivery company Vectura for $1.2 billion. The news of the acquisition was met with criticism, including from the American Lung Association. The ALA called the purchase “the latest reprehensible choice from a company that has profited from addicting users to its deadly products.”

The company announced the Vectura acquisition in July 2021. A month later, Philip Morris acquired OtiTopic and its late-stage dry powder inhalation technology.…

Medtech M&A: The industry’s biggest mergers and acquisitions of 2021

[Image from Jp Valery on Unsplash]

Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more.

Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired.

Here are the 10 biggest mergers and acquisitions in medtech in 2021:

Next>>

Philip Morris’ $1.2B offer for inhaled drug delivery tech developer becomes unconditional

Philip Morris (NYSE:PM) announced today that its offer to buy inhaled drug delivery technology developer Vectura has become unconditional.

Having received valid acceptances for or acquired 74.77% of Vectura shares, in excess of the 50% required under the acceptance condition, along with confirming that all other conditions to the offer have been satisfied or waived, the deal reached unconditional status.

Get the full story at our sister site, Drug Delivery Business News.

Cigarette maker Philip Morris acquires another inhaled therapeutic company

Philip Morris (NYSE:PM) announced today that it acquired OtiTopic and its late-stage inhalable acetylsalicylic acid (ASA) treatment.

Los Angeles-based OtiTopic develops the Asprihale patented dry powder inhalation ASA treatment to treat acute myocardial infarction as a self-administered aerosol.

Get the full story at our sister site, Drug Delivery Business News.

American Lung Association slams cigarette maker for inhaled medical therapy acquisition

The American Lung Association condemned the recently announced acquisition of Vectura by cigarette maker Philip Morris (NYSE:PM).

Earlier this month, Philip Morris announced that it agreed to acquire inhaled drug delivery technology developer Vectura for $1.2 billion.

In response to the acquisition, American Lung Association president & CEO Harold Wimmer and American Thoracic Society president Dr. Lynn Schnapp released a joint statement calling the purchase “the latest reprehensible choice from a company that has profited from addicting users to its deadly products.”

Get the full story at our sister site, Drug Delivery Business News.