Vectura

Vectura Group Limited is a British pharmaceuticals company based in Chippenham, England which develops inhaled medicines and makes inhaler devices. The company was listed on the London Stock Exchange until it was acquired by Philip Morris International in September 2021.

Vectura Group Limited
TypeSubsidiary
IndustryPharmaceuticals
Founded1997
HeadquartersChippenham, England, UK
Number of locations
5 (2019)
Key people
Bruno Angelici, Chairman
Michael Austwick, (CEO)
RevenueIncrease £190.6 million (2020)[1]
Increase £132.8 million (2020)[1]
Increase £122.4 million (2020)[1]
Number of employees
450 (2021)[2]
ParentPhilip Morris International
Websitewww.vectura.com

History

The company was formed in 1997 at the University of Bath as a start-up pharmaceuticals business.[3] In 1999 it acquired Co-ordinated Drug Development and the Centre for Drug Formulation Studies.[4] The company moved from the university campus to a site at Chippenham in 2002.[3] In 2004 it was listed on the Alternative Investment Market.[3] In 2006 it acquired Innovata Biomed plc, another developer of pulmonary products,[5] and then moved onto the full list of the London Stock Exchange.[4] It acquired Activaero, a German manufacturer in the same sector, for £108 million in March 2014.[6] In 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.[7]

The former Skyepharma manufacturing plant at Lyon, France, makes various oral products including tablets. After Vectura decided to concentrate on inhaled products, in June 2021 the company supported a buy-out of the site by its management, with finance from Bpifrance.[8]

In July 2021, American tobacco company Philip Morris International made an offer to buy Vectura Group for £1 billion.[9] The Carlyle Group, an American private equity firm, also submitted an offer which was £44m lower.[10] The board subsequently accepted the offer from Philip Morris International[11] and, in September 2021, the company confirmed that circa 75% of shareholders had supported the takeover.[12]

Operations

Vectura is a developer of inhaled therapies for the treatment of respiratory diseases.[13] Since 2019 it has operated as a contract development and manufacturing organization (CDMO), helping other companies bring inhaled medicines to market.[3]

The headquarters and development facility at Chippenham, on a mixed industrial site on the outskirts of the town, employs around 250 as of 2022.[14] There are also development sites at Cambridge, Muttenz (Basel, Switzerland) and Gauting (Germany).[3] There are plans for a new research & development building at the Bristol and Bath Science Park, not far from Chippenham, which could open in 2025.[15]

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. "About us". Vectura. Retrieved 16 June 2022.
  4. "Company History". Vectura. Archived from the original on 12 March 2018 – via Internet Archive.
  5. Barriaux, Marianne (17 November 2006). "Vectura buys Innovata". Guardian.
  6. "UK's Vectura buys Activaero for £108 million". Pharma Times. 16 March 2014. Retrieved 20 June 2015.
  7. Bradshaw, Julia (16 March 2016). "Vectura and Skyepharma to merge in £441m deal". The Daily Telegraph. Retrieved 11 June 2016.
  8. "Vectura announces completion of management buy-out of Lyon oral subsidiary, Skyepharma Production SAS". Vectura. 10 June 2021. Retrieved 16 June 2022.
  9. Ralph, Alex (9 July 2021). "Philip Morris buys respiratory drugs company Vectura for £1bn". The Times. ISSN 0140-0460. Retrieved 9 July 2021.
  10. "Health firm Vectura faced with choice between Carlyle and Philip Morris". the Guardian. 10 August 2021.
  11. "Vectura board unanimously accepts Philip Morris's controversial takeover bid". The Guardian. 12 August 2021. Retrieved 17 September 2021.
  12. "Philip Morris seals deal for UK's Vectura despite health group concerns". Reuters. 16 September 2021. Retrieved 21 September 2021.
  13. "Dr Karl Keegan to join Vectura Group". Manufacturing Chemist. Retrieved 20 June 2015.
  14. "Chippenham". Vectura. Retrieved 16 June 2022.
  15. "New R&D Facility, Bristol and Bath Science Park" (PDF). Vectura. February 2022. Retrieved 16 June 2022.
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