Phillips Medisize parent company Molex announced that it agreed to acquire Vectura from a subsidiary of cigarette maker Philip Morris.

Vectura designs and develops devices and formulations for inhaled drug delivery. Philip Morris paid $1.2 billion for the UK-based company in 2021 as part of its “Beyond Nicotine” effort to phase out cigarettes and develop and commercialize better and less harmful alternatives to smoking. Philip Morris faced backlash from the American Lung Association for its attempted moves into inhaled therapies.

Following this acquisition, Vectura can bring its unique inhalation expertise to Phillips Medisize. That includes formulation and device development for dry powder inhalers (DPI), pressurized metered dose inhalers (pMDI), nasal and nebulizer products for small molecules, biologics, complex combinations and generic products.

Vectura also offers pharmaceutical analysis, process development, technical transfer, clinical trial supplies and regulatory services.

The company expects to close the acquisition by the end of 2024, subject to regulatory approvals and other customary closing conditions.

“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.”