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Vectura Agrees £958m Takeover Following Hikma Advair Launch

Partner Hikma Recently Launched US Advair Generic

Executive Summary

Weeks after partner Hikma launched its generic version of GSK’s Advair, Wiltshire-based Vectura has agreed a takeover offer by private equity Carlyle, which aims to build a market leading inhalation specialist CDMO.

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Philip Morris Closes In On Vectura As £1.1bn Offer Passes Threshold

Philip Morris once again pledged to up R&D in Vectura after its £1.1bn takeover offer for the UK-based inhalation specialist became unconditional, following the tobacco giant’s acrimonious face-off with private equity Carlyle earlier this year.

Vectura Opts For Tobacco Giant Philip Morris In Carlyle Takeover Tussle

Vectura’s board of directors has chosen cigarette manufacturer Philip Morris’ superior cash offer, turning down US private equity Carlyle, following a months-long battle between the two bidders for the inhalation specialist that was set to go to a rare auction in the UK.

Carlyle Cancels Vectura Auction At Eleventh Hour As Bid Declared Final

The race to take control of the UK-based Vectura group will go down to the wire, as private equity Carlyle pulled the plug on a potential auction by declaring final its revised bid for the respiratory specialist. Tobacco giant Philip Morris has offered a 10% premium to Carlyle’s bid.

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