What's Going On With Phillip Morris?
Phillip Morris (PM) today announced its acquisition of OtiTopic, a U.S. respiratory drug development company with a late-stage inhalable acetylsalicylic acid (ASA) treatment for acute myocardial infarction. The treatment is meant to assist the more than 83 million Americans at risk of myocardial infarction. Shares of the company were trading 0.08% higher to $99.34 a share on Monday.
What Does This Mean For Phillip Morris?
PM is looking to leverage its expertise, scientific know-how, and capabilities in inhalation to expand a series of inhaled therapeutics and respiratory drug delivery Beyond Nicotine. Once it goes through all the necessary approvals from the Food & Drug Administration, PMI can leverage its expertise and the capabilities of other companies in the Beyond Nicotine portfolio, delivering ASPRIHALE to the marketplace. ASPRIHAEL is a patented, dry powder inhalation of ASA delivered through a unique self-administered aerosol. It's expected to be approved by the FDA in 2022.
“The acquisition of OtiTopic is an exciting step in PMI’s Beyond Nicotine ambitions,” said Jacek Olczak, CEO, PMI. Adding, "we have world-class expertise in the research, development, and commercialization of aerosolization and inhalable devices to help speed the delivery of this exciting product to market.”
Philip Morris International Inc., through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories.
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Philip Morris International is a leading international tobacco company engaged in the manufacture and sale of cigarettes and other nicotine-containing products in markets outside the United States. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and scientific substantiation, the company aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. Management's vision is that these products ultimately replace cigarettes.
