Vectura Group

Vectura Group plc is a British pharmaceuticals business based in Chippenham, England. It was listed on the London Stock Exchange until it was acquired by Philip Morris International in September 2021.

Vectura Group plc
TypePublic
LSE: VEC
IndustryPharmaceuticals
Founded1997
HeadquartersChippenham, England, UK
Number of locations
5 (2019)
Key people
Bruno Angelici, Chairman
Will Downie, (CEO)
Revenue £190.6 million (2020)[1]
£132.8 million (2020)[1]
£122.4 million (2020)[1]
Number of employees
450 (2021)[2]
Websitewww.vectura.com

History

The company was formed in 1997 as a start-up pharmaceuticals business.[3] In 1999 it acquired Co-ordinated Drug Development and the Centre for Drug Formulation Studies.[3] In 2004 it was listed on the Alternative Investment Market.[3] In 2007 it acquired Innovata plc, another developer of pulmonary products,[4] and then moved onto the full list of the London Stock Exchange.[3] It acquired Activaero, a German manufacturer in the same sector, for £108 million in March 2014.[5] On 10 June 2016 Vectura completed a £441 million merger with Skyepharma, a maker of devices such as asthma inhalers; it was announced that the merged company would continue to be known as Vectura.[6]

In July 2021, American tobacco company Philip Morris International made an offer to buy Vectura Group for £1 billion.[7] The Carlyle Group, an American private equity firm, also submitted an offer which was £44m lower.[8] The board subsequently accepted the offer from Philip Morris International[9] and, in September 2021, the company confirmed that circa 75% of shareholders had supported the takeover.[10]

Operations

The group is a developer of inhaled therapies for the treatment of respiratory diseases.[11]

References
  1. "Annual Results 2020" (PDF). Vectura Group. Retrieved 18 March 2021.
  2. "Executing on our inhaled specialist CDMO strategy" (PDF). Vectura Group. 14 January 2021. Retrieved 3 March 2021.
  3. "History". Vectura Group. Retrieved 3 August 2016.
  4. Vectura buys Innovata Guardian, 17 November 2006
  5. "UK's Vectura buys Activaero for £108 million". Pharma Times. 16 March 2014. Retrieved 20 June 2015.
  6. Bradshaw, Julia (16 March 2016). "Vectura and Skyepharma to merge in £441m deal". The Daily Telegraph. Retrieved 11 June 2016.{{cite news}}: CS1 maint: url-status (link)
  7. Ralph, Alex (9 July 2021). "Philip Morris buys respiratory drugs company Vectura for £1bn". The Times. ISSN 0140-0460. Retrieved 9 July 2021.
  8. "Health firm Vectura faced with choice between Carlyle and Philip Morris". the Guardian. 10 August 2021.
  9. "Vectura board unanimously accepts Philip Morris's controversial takeover bid". The Guardian. 12 August 2021. Retrieved 17 September 2021.
  10. "Philip Morris seals deal for UK's Vectura despite health group concerns". Reuters. 16 September 2021. Retrieved 21 September 2021.
  11. "Dr Karl Keegan to join Vectura Group". Manufacturing Chemist. Retrieved 20 June 2015.
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