In a recent 8-K filing with the Securities and Exchange Commission, Philip Morris International Inc (NYSE:PM). announced the completion of its subsidiary Vectura Group Ltd.'s sale to Molex Asia Holdings Ltd. The transaction was finalized on Monday, December 31, 2024, and the terms of the sale were in line with the details previously disclosed on September 17, 2024.
Philip Morris International, known for its tobacco products and headquartered in Stamford, Connecticut, had initially announced the intention to sell Vectura Group Ltd., a move that was part of the company's strategic business decisions. The completion of this sale marks the end of the association between Philip Morris and Vectura, a company that has been involved in the development of inhaled therapies.
The news above is based on an SEC filing.
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