Philip Morris International's Vectura Fertin Pharma Announces Agreement For Sale Of Vectura Group To Molex; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International's affiliate, Vectura Fertin Pharma, has agreed to sell its subsidiary Vectura Group to Molex Asia Holdings. The deal includes upfront cash and potential deferred payments, pending regulatory approval.
September 17, 2024 | 1:16 pm
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Philip Morris International's affiliate, Vectura Fertin Pharma, is selling Vectura Group to Molex. This move could streamline PMI's focus on its core business while potentially benefiting from the cash influx.
The sale of Vectura Group by PMI's affiliate could positively impact PMI by allowing it to focus on its core business and benefit from the cash consideration. The transaction's completion is subject to regulatory approval, which adds some uncertainty.
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