Philip Morris International Inc. (PMI) announced an agreement to acquire Fertin Pharma for approximately $820 million. Fertin Pharma is a leading developer and manufacturer of innovative pharmaceutical and well-being products based on oral and intra-oral delivery systems.
- Fertin Pharma is a privately held company with operations in Denmark, Canada, and India.
- It is a leading contract development and manufacturing organization (CDMO), specializing in the research, development and production of gums, pouches, liquefiable tablets, and other solid oral systems for the delivery of active ingredients, including nicotine, where it is a leading producer of Nicotine Replacement Therapy (NRT) solutions.
The major expansions and investments by Philip Morris International are mentioned below:
June 2021: Philip Morris International (PMI) announced the relocation of its corporate headquarters to Connecticut from New York. The move, which was facilitated with the support of Gov. Ned Lamonts office, will bring approximately 200 jobs to the stateproviding a boost to the states economy. The new headquarters is expected to be operational by summer 2022.
Oct 2020: Philip Morris Investments B.V. (PMIBV), a subsidiary of Philip Morris International (PMI), has been a shareholder of Medicago and has supported Medicagos innovative plant-derived research and development focused on vaccines.
The investment is consistent with PMIs own efforts to leverage science and innovation. Japan-based Mitsubishi Tanabe Pharma Corporation (MTPC) is the majority shareholder and PMIBVs partner in Medicago. Among other things, PMIBV and MTPC will contribute additional funding to support Medicagos efforts to develop a COVID-19 vaccine candidate.
Aug 2020: Philip Morris International Inc. announced to begin commercialization of KT&Gs smoke-free alternatives outside of South Korea. The announcement follows an agreement signed in January 2020 by PMI and KT&G, the leading South Korean tobacco and nicotine company.
June 2019: Philip Morris International (PMI) launched unsmokeyourworld.com, a new online hub for those that want to unsmoke themselves or their loved ones, their communities, or the world. The website aims to provide an inspiring and engaging place to help people kick-start their smoke-free journeys. The best way to unsmoke is to quit cigarettes and nicotine completely.
About Philip Morris International
Philip Morris International (PMI), headquartered in New York City, the USA, is one of the worlds leading international tobacco companies. The tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products, associated electronic devices and accessories, and other nicotine-containing products. The company has 39 production facilities worldwide and has a workforce of more than 71,000 globally.