Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in respiratory care, has signed an agreement with Aerogen Ltd, a privately owned respiratory drug delivery company headquartered in Galway, Ireland. The agreement includes a technology license and the acquisition of select assets solely related to Aerogen's home-care business. This will strengthen the innovation capabilities and product portfolio of Philips' respiratory drug delivery activities within its Home Healthcare Solutions business. The financial details of the transaction were not disclosed.
It is estimated that hundreds of millions of people worldwide suffer from respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Drug delivery to the lungs is a critical part in treating these chronic diseases, and nebulizers are frequently the respiratory drug delivery devices of choice for both children and adults. With this agreement, Philips will expand its range of home-care nebulizers and will gain access to Aerogen’s technology, an important component of advanced nebulizers for fast and precise drug delivery.
"This agreement is a key enabler in the development and marketing of respiratory drug delivery solutions to manage patients in the home," said Brent Shafer, CEO Home Healthcare Solutions at Philips Healthcare. "Inhalation therapy plays a key role in treating chronic respiratory problems and I believe that with Aerogen's technology we are further expanding on our promise to improve people’s lives through meaningful innovation."
Both companies are committed to a seamless transition of Aerogen's home-care nebulizer product range and customer base to Philips. Aerogen's acute-care and home ventilator drug delivery business is unaffected by the transaction and no employees will transfer to Philips as part of the agreement.
Related news articles:
- Philips Healthcare's Profile
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2012 sales of EUR 24.8 billion and employs approximately 114,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare.