Tobacco juggernaut acquires therapeutics company behind inhalable heart attack treatment
Philip Morris International (PMI), one of the world’s biggest cigarette and tobacco manufacturers, has announced the acquisition of OtiTopic, a U.S. therapeutics company known for its inhalable acute myocardial infarction (AMI) treatment. The move is part of PMI’s “Beyond Nicotine” initiative, which involves investing in new areas such as the healthcare space.
OtiTopic’s inhalable treatment for AMI, sold under the name Asprihale, is taken with a self-administered aerosol. According to PMI, clinical trials are currently underway, and the goal is to gain FDA approval in 2022.
“The acquisition of OtiTopic is an exciting step in PMI’s Beyond Nicotine ambitions,” said Jacek Olczak, CEO of PMI, said in a prepared statement. “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.”
“This transaction aligns well with OtiTopic’s goals of unlocking what we believe to be a significant opportunity in inhaled therapeutics science,” added Kambiz Yadidi, CEO of OtiTopic.
No financial terms have been shared at this time.
In other news, PMI also appears close to finalizing its acquisition of Vectura, an asthma inhaler manufacturer based out of the U.K.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.