Tobacco

PMI Makes Moves Toward 'Beyond Nicotine' Strategy

Company moves forward with Fertin Pharma, Vectura acquisitions
PMI logo

NEW YORK — Philip Morris International Inc. (PMI) has moved forward with two acquisitions—one with Fertin Pharma and one with Vectura.

The closing of the acquisition of Vejle, Denmark-based Fertin Pharma, a leading developer and manufacturer of pharmaceutical products based on oral and intra-oral delivery systems, helps to advance PMI’s goal of becoming a majority smoke-free business by 2025 and creates growth opportunities beyond nicotine, the company said.

“As we build our pipeline of smoke-free products with the goal of phasing out cigarettes and expand our business for the long-term toward areas outside of tobacco and nicotine, such as selfcare wellness, we welcome the contributions that Fertin Pharma, its management and its employees will bring to PMI,” said PMI CEO Jacek Olczak. “PMI’s future is centered on health, science, technology and sustainable business practices to deliver innovative products and solutions that aim to improve people’s lives and create a net positive impact on society. The world-class expertise of Fertin aligns perfectly with this vision and will be an important part of our future.”

With Fertin Pharma’s know-how, PMI plans to accelerate its presence in the modern oral category through a range of smoke-free products including nicotine pouches.

PMI also recently announced its unconditional offer for Vectura Group PLC. PMI has acquired or received valid acceptances for about 75% shares in Vectura, and all other conditions have been satisfied or waived, making PMI’s offer unconditional in all respects, the company said.

Vectura, Chippenham, U.K., a provider of inhaled drug delivery solutions, has 13 inhaled and 11 non-inhaled products marketed by major global pharmaceutical partners, as well as a diverse portfolio of partnerships for drugs in clinical development.

"We are very excited about the critical role Vectura will play in our Beyond Nicotine strategy and look forward to working with Vectura’s scientists and providing them with the resources and expertise to grow their business to help us achieve our goal of generating at least $1 billion in net revenues from Beyond Nicotine products by 2025,” Olczak said.

PMI, New York, sells tobacco products in more than 180 markets, according to its website. Its top brands include Marlboro, Parliament, Virginia Slims, IQOS and more.

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