Philip Morris International May Acquire Nicotine Gum Maker
Reports indicate that the tobacco giant is considering acquiring a nicotine gum manufacturer. According to news outlets including Bloomberg, Philip Morris International (PMI) is reportedly looking at Fertin Pharma, a Danish pharmaceutical company that pro
Reports indicate that the tobacco giant is considering acquiring a nicotine gum manufacturer.
Vejle, Denmark—According to reports, Philip Morris International (PMI) is considering purchasing a nicotine gum manufacturer in Denmark. The company in question is Fertin Pharma—a pharmaceutical company that produces NRT (nicotine replacement therapy).
According to tobacco journalists, financial analysts have indicated that Fertin's value in the sale, including company debt, is approximately $713.5 million.
Fertin is "the world's largest contract developer and manufacturer of nicotine gum" and "also helps produce tablets, gums, and lozenges for pain relief, vitamins, cough treatments, and sleep aids."
Fertin has over 800 employees globally. According to its website, these employees work in research and manufacturing facilities in Canada, Denmark, and India, producing 3 billion products annually. Over the years, PMI has publicly expanded its non-tobacco and smoke-free product offerings.
For years, Philip Morris International has invested $8 billion in the research and development of next-generation nicotine and smoke-free products.
The company's goal is to derive more than half of its sales from smoke-free products within the next four years. The company is also aiming for $1 billion in net revenue from non-nicotine products by fiscal year 2025.
Fertin's parent company has invested in cannabinoid product development through its stake in MedCan Pharma A/S.
If PMI's rumored acquisition of Fertin is true, this acquisition could be a strong move, not only benefiting investments in smoke-free products but also in cannabis.
PMI is said to have invested in an Israeli company that is developing a medical cannabis inhaler product. It is also reported that the company has developed various products based on the global medical and recreational cannabis market.
